Thursday 28 April 2011

BRISTOL PROPERTY PRICES CONTINUE TO RISE


The property market in Bristol is continuing to improve, with house prices in the city rising in March for the third successive month.

The 0.1 per cent rise means that the average property in Bristol is now on the market for £196,448, up almost £180 on the previous month.

Asking prices are up 2.2 per cent on December 2010, when the average property was on sale for £192,220, according to the latest house price index from FindaProperty.com

"Bristol's property market is doing a brisk trade right now and has bounced back from the traditional winter lull," said their property analyst, Samantha Baden.

"We are seeing a big demand from people moving away from expensive areas in London and the South East to enjoy the better quality of life and lower property prices Bristol has to offer.

"This is helping to keep transaction numbers up and keeping prices buoyant when other parts of the country are struggling. Asking prices in big cities were all down or flat last month, but Bristol is bucking the trend."

Nationally, the National Association of Estate Agents revealed that the number of new buyers registering with estate agents rose to an eight-month high of 290 during March, up from 268 in February.

And high street bank Halifax reported that buying a property is now nearly £100 per month cheaper than renting one as a result of record low interest rates and house price falls.

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