Positive outlook for Northamptonshire’s housing market

The housing market is looking up, say estate agents
The housing market is looking up, say estate agents

Estate agents across Northamptonshire are confident that the housing market is moving in a positive direction and is currently in a ‘stable’ condition.

The news comes as figures released by the Land Registry show that there has been a 5.5 per cent increase in average house prices across the county.

Northamptonshire National Association of Estate Agents spokesman Charles Orlebar said: “I think houses are selling at the moment and it’s a productive market.

“Mortgage lenders have started to back buyers more and there are houses to be bought, and that are being bought.”

Mr Orlebar added: “There has been an increase in house prices over the past year but I think people are paying the right prices for property.

“Nobody is paying over the top for housing at the moment.”

Mr Orlebar’s view is echoed by a number of estate agents from across the county.

Josh Drummond, sales negotiator at the Kettering branch of Simpson and Partners, said there has been a definite positive improvement in the market since January.

He added: “As long as we do our job and keep educating people that the market is going up, more buyers will gain confidence and things will stay positive.”

Mr Drummond said last year they were selling five to seven houses in the Kettering area per week but that figure is now between 10 and 15.

Mark Carroll, head of residential, at Berrys estate agents said: “We are no longer in the doom and gloom, or in the doldrums, of four years ago.

“As long as buyer confidence continues to increase, things will stay positive.

“We will not see a boom back to the levels of 2007 because nobody wants to see the market bust again.”

All of the estate agents welcomed the new Help to Buy Scheme, which enables all purchasers to put down a five per cent deposit on a newly built home, which they say will give an ‘incentive’ to buyers.

House price increases

House prices on average in Northamptonshire have seen an annual rise of 5.5 per cent to £181,786, according to figures from the Land Registry.

Corby has seen the biggest annual rise of 7.5 per cent, with prices now £126,469 on average.

House prices in Wellingborough have seen an increase of 6.8 per cent, to £173,542.

In the east of the county house prices have risen by 3.9 per cent, to an average of £180,195.

House prices in Kettering have risen to £155,495, up by 5.9 per cent on last year.