House prices boosted by population growth
House prices are falling across the country but Lincolnshire homes are weathering the storm much better than most, according to new figures.
The average price of a house has fallen by 10.1 per cent nationally to £165,529 since last year, according to the latest data from the Land Registry.
But Lincolnshire has only seen a drop of 6.2 per cent to an average price of £139,062.
Estate agents claim that Lincoln's growing popularity and the county's population increase are the main reasons that the overall decline has not hit us as hard.
Tim Downing, senior partner at Pygott & Crone, said: "We sold 40 properties to people wanting to relocate to Lincoln in October, which in any market place is remarkable," he said.
"There's a lot going on for Lincoln such as the direct train line to London St Pancras whereas in other places it is real doom and gloom."
However, the Land Registry figures have been criticised as they exclude repossessions and auctions on the grounds that they do not reflect the 'full market value' of the sale.
Lincoln County Court brought proceedings against 415 homeowners in the first half of this year – a 71 per cent increase on the same period in 2007 – and 328 were evicted.
For more on this story see Monday's Lincolnshire Echo
12 Comments
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by Bob Bobbins, Bobbing Along
Wednesday, December 03 2008, 3:21PM
“What a boring thread.”
by luke, lincoln
Wednesday, December 03 2008, 10:54AM
“Swiss, your boring me with your boring views of boring Joe, clear off back and go and eat some milka bars..”
by Swiss Frank, The Alps
Tuesday, December 02 2008, 7:39PM
“Sorry Joe, you've just bored me again, yes i know it's silly o'clock but i've just finished working and you still bore me. Apartments? give it a rest you boring man!. I would prefer train timetables over your analysis of Lincolns housing situation/. Is your mother ashamed of you?”
by Joe, Lincoln
Tuesday, December 02 2008, 5:43PM
“The really bad end of the market is the apartment market in Lincoln.
Far, far more apartments than the market can bear, and as with similar markets in other cities there's a crash waiting to happen. It's already happened in London, Leeds and Birmingham, but expect Lincoln apartment prices to be around half of their peak. Anybody paying £300k for an apartment has been taken for a ride.”
by luke, london
Tuesday, December 02 2008, 4:15PM
“ok maybe dropped a little, jobsworth.”
by I P Excellence, Lincoln
Tuesday, December 02 2008, 4:08PM
“"house prices in Lincoln have been flat for the last 5 years FACT"
Lie.”
by luke, london/lincoln
Tuesday, December 02 2008, 3:37PM
“house prices in Lincoln have been flat for the last 5 years FACT”
by home owner, lincoln
Tuesday, December 02 2008, 12:41PM
“Im suprised at this.
A new house i bought two yrs ago has just been valued by Pygott and Crone at £15k less than the original buying price in Dec 2006 and £25K less than what it was valued last november ('07).
Luke and Joe, not so boring in my eyes, good points made. Im thinking of getting the house marketed south of Lincs as it does have good enough links to make commuting bearable for a few days in the week.”
by Joe, Lincoln
Tuesday, December 02 2008, 11:50AM
“Good point, Swiss. And you spend your life posting on sites like this? zzzzzzzzzzzzzzzzzzz”
by Swiss Frank, The Alps
Monday, December 01 2008, 6:28PM
“Joe and Luke, Luke and Joe, has anyone ever told you how extremely boring you are? Get a life guys, there's more to living than train timetables”