Peterborough Annual Housing Market Index
Highlights:
• The average price of a home in Peterborough in 2007 was £157,481
• The average house price in Peterborough has increased 3.7% since 2006 (up from £151,829 and 8% between 2005 and 2006
• The overall number of property sales in Peterborough was down 37.8% on figures for 2006
• Terraced homes proved the most popular properties with homebuyers in
Peterborough, making up 34.2% of sales in 2007 and 32.5% in 2006
• Detatched homes experienced the strongest price growth in 2007, with prices up 7.5% on 2006
• Terraced homes showed the weakest level of price growth in 2007, with prices down up by 3.4%
House Prices & House Sales:
While average house prices rose by 3.7% in 2007, the Peterborough property market experienced a decrease in sales, with the total number of sales down 37.8% on the previous year. However, all property types recorded positive price growth in 2007, led by detached homes, which surged 7.5% with the average price finishing the year on £234,713, up from £218,287 in 2006.
Summary:
Growth in the Peterborough property market was diminutive in 2007, with the number of sales down 37.8% on 2006. However, while the number of sales fell, typical prices ended the year on a high – up 3.7% since 2006.
The average house price in Peterborough was £157,481 in 2007. While this signifies a positive level of growth on figures for 2006, it shows a sustained slowdown in the city, following previous annual rises of 4.6% between 2005 and 2006 and 7.9% between 2004
and 2005, as the price of a terraced home, the most frequently bought and sold property type in Peterborough, recorded the smallest price increase.
Detached properties recorded the largest price growth in Peterborough during 2007, up 7.5% on the previous year. However, terrace homes have consistently topped the property mix, proving popular with a range of homebuyers - making up 32.5% of all sales in 2006, and 34.2% in 2007.
Download the pdf document to view detailed illustrations of the Peterborough housing market
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