House prices in Swindon are rising but at half the rate compared to the rest of the region.
The average house price in Swindon is now £171,287 which is a rise of 4.3 per cent compared to last year.
The latest Land Registry reveal that detached houses in Swindon have increased by over £9,000 and now cost £267,311 compared to last year.
But the price of a semi-detached house has gone down in value by more than £2,000, to £162,097.
The average price of a home has increased by 6.9 per cent across Wiltshire as a whole.
Nationwide, house prices went up by 8 per cent, meaning that the average house in England and Wales will cost £206,414.
Phil Reeve, director of Philip Andrews estate agents, Swindon, said he had experienced much higher price rises. He said, “I would say we are talking about a 10 to 12 per cent increase in Swindon. The biggest increase has been in the price of one and two-bedroom starter properties ."
Land Registry figures show that the cheapest property sold in the town last year cost £30,000 and the most expensive cost £1m.
Mr Reeve said, "I would seriously doubt the quality of a property for that low price. The cheapest property on our books is £92,950. Our most expensive is currently £425,000. You don't see many £1m homes in Swindon."
Matthew James, from Haywoods estate agents based at West Swindon District Centre, said, "What is really going to shake things up is the introduction of the Home Information Packs in June."
"There will be a lot more houses on the market in April and May because people will want to sell before the legislation comes in.
"This might not make much difference to prices, but will mean there'll be a lot more choice of properties out there."
"If you are looking to buy then April and May is the time to do it. If you are looking to sell then do it now," said Mr James.
Nationwide Building Society, released figures that shows house prices have slowed down in the town's housing market in the previous month.
Economists predict that property sales will slow down even more in the second half of 2007.
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Average house price tops GBP171,000
Tue, 20 Mar 2007
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