Corby house prices through the roof as borough homes cost SEVENTEEN per cent more than last year

House prices in Corby have risen by a staggering 17.2 per cent in the past year.

HM Land Registry statistics released this week show that, between March 2019 and April 2020, the average house price in Corby leapt from £181,680 to £212,849. Most of that growth took place between March and April this year.

It is the first time ever the borough's average house price has been higher than neighbouring Kettering, which has an average price of £212,172.

Corby's house prices are the fourth fastest-growing in the country - beaten only by Cambridge and Fylde at 18.6 per cent and the City of London at 17.4 per cent.

According to the government's House Price Index (HPI), nationally, house prices rose by an average of 2.5 per cent.

In the past year, building at Priors Hall - once the UK's biggest building site - has accelerated and the borough has experienced a two per cent increase in population, with many people flocking to the town because of its rural location and its competitive property prices.

Ricky-Lee Brennan, partner at Chris George The Estate Agent, said: "The market is still very busy in Corby even more so with the stamp duty relief

"The news of the price rise doesn’t surprise me I think over recent years the town has received great financial backing from the council, investment in the town centre, train station and local football club, as well as securing big high street names which in turn has made it very attractive for people to live or visit Corby.

"I speak to a lot of people from Kettering who actually come to Corby to shop as they find it a better all-round experience from parking to the amount of choice they have.

"I don’t feel that Kettering has had the level of investment Corby has had in the last 10 years, so buyers are more drawn to Corby especially when they are choosing between the two towns.

"This is why the average price of property is now higher in Corby.

"The market is still very busy in Corby even more so with the stamp duty relief."

The Government's economic statement said: "The UK HPI is based on completed housing transactions. Typically, a house purchase can take 6 to 8 weeks to reach completion. Therefore, the price data feeding into the April 2020 UK HPI will reflect those agreements that occurred before the government measures to reduce the spread of coronavirus (COVID-19) took hold.

"England house prices grew by 2.5 per cent in the year to April 2020, down from 3.5 per cent in March 2020. England house prices were growing slower than the 2.6% per cent UK annual growth rate in the year to April 2020.

"The East Midlands was the fastest growing region with annual growth of 4.7 per cent in the year to April 2020. The lowest annual growth was in the North East, where prices fell by 2.3 per cent over the year to April 2020.

Why is Corby such a great place to live?