Estate agents in East Anglia reported house price rises of 2.6% in May. This is the largest jump in property prices in many years. Recent data from Halifax puts the average cost of a property in the UK at £158,565.
Local estate agencies reported significant activity in the property market, with many more house sales during may compared to figures from last year.
WH Brown director Callum Taylor reportedly commented: "Our volume of sales has significantly increased on last year, with sales in May 2009 in many of our offices across Norfolk and Suffolk over twice the volume of May '08 which does bode well. Our viewing levels are up dramatically, our sales that have been agreed are up dramatically, and our major issue is there's not enough new stock coming into the market place, and reluctance by some people to enter the market."
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