Home prices in Bedford rise 3.2% Bedford News

House prices rose 3.2% in Bedford in March, new figures show.

This momentum is contributing to the longer-term trend, which has seen property prices in the region reach 17.5% annual growth.

The average house price in Bedford in March was £353,319, according to Land Registry figures, an increase of 3.2% on February.

During the month, the situation was better than in the East of England, where prices fell by 0.8%, and Bedford outperformed the rise of 0.3% for the whole of the United Kingdom. .

Over the past year the average selling price of a property in Bedford has risen by £53,000, putting the area third out of 45 local authorities in the East of England with price data for annual growth.

Owners of single-family homes saw the biggest improvement in property prices in Bedford in March – they rose 3.5%, to an average of £596,202. Over the past year, prices have increased by 21.1%.

Among other types of goods:

Paired: increase of 3.4% monthly; up 17.8% per year; £352,242 on average

Semi-detached: +3% per month; up 15.2% per year; £271,584 on average

Apartments: +2.6% per month; up 12.6% per year; £185,687 on average

FIRST STEPS ON THE OWNERSHIP LADDER

First-time buyers in Bedford spent an average of £283,000 on their property, £40,000 more than a year ago and £58,000 more than March 2017.

By comparison, former homeowners paid £405,000 on average in March, 43.2% more than first-time buyers.

HOW DO BEDFORD PROPERTY PRICES COMPARE?

Buyers paid 2.7% more than the average price in the east of England (£344,000) in March for a property in Bedford. Property prices in the east of England are higher than in the UK, where the average cost is £278,000.

The most expensive properties in the East of England were in St Albans – £588,000 on average, and 1.7 times more than in Bedford. Properties in St Albans cost 2.8 times more than houses in Great Yarmouth (£206,000 on average), at the other end of the scale.

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