House prices are up by 75 per cent

Prices are on the up

Prices are on the up

First published in News by

NEW statistics have revealed house prices in Southend have risen by more than 75 per cent in the past decade.

In the same period, the National Housing Federation says salaries in the borough have risen by 31 per cent to almost £23,000 since 2002 with the amount of people privately renting also increasing by 30 per cent.

Meanwhile, Rochford has seen the lowest rise in wages over the past decade, at only 9 per cent, with house prices going up the least, at 43 per cent.

In Basildon, house prices have risen 60 per cent in the last ten years, compared to 49 per cent in Castle Point, although the amount of people privately renting has gone up 16 per cent and 23 per cent respectively.

Alexander Ashe, senior executive branch manager at Bairstow Eves, in London Road, Westcliff, and said the rise in price of privately rented homes was linked to the rise in house prices.

He said: “Prices are going up extremely quickly and have gone up between 5 and 10 per cent alone since the start of the year – so a house that cost £175,000 in January may cost up to £192,000 now.

“Luckily, people can still take advantage of the Help to Buy scheme, so first time buyers or home movers are still able to get significant help.

More and more people are taking advantage of this scheme.

“With prices going up, it follows suit that more people are looking to rent.”

The National Housing Federation says the rise in prices is pushing house prices and private rents out of reach for local workers, with the average salary in Essex increasing by just 24 per cent in the last ten years, to £22,000.

Claire Astbury, East of England external affairs manager for the National Housing Federation, said: “High house prices, rising rents and low and stagnant wages in Essex are not only making life extremely difficult for people living and working in the county, but they are also affecting employers and businesses and risk holding back any prospects of economic growth.”

Comments (6)

Please log in to enable comment sorting

8:15am Thu 20 Mar 14

jayman says...

75%... inflation has risen by more then that in 10 years. House building has been at an all time low in this period. The population has grown experientially.

revise the figures and depreciate based on the above factors.
75%... inflation has risen by more then that in 10 years. House building has been at an all time low in this period. The population has grown experientially. revise the figures and depreciate based on the above factors. jayman
  • Score: 3

10:22am Thu 20 Mar 14

Shoeburylass says...

I was going to buy a 1-bed flat in Westcliff 10 years ago for £97K, I seriously doubt it's worth £170K now... If there's one thing I can't abide, it's misleading statistics.
I was going to buy a 1-bed flat in Westcliff 10 years ago for £97K, I seriously doubt it's worth £170K now... If there's one thing I can't abide, it's misleading statistics. Shoeburylass
  • Score: 5

10:28am Thu 20 Mar 14

w-jback says...

75% Rubbish. 50% in some areas maybe.
75% Rubbish. 50% in some areas maybe. w-jback
  • Score: 3

10:51am Thu 20 Mar 14

Nebs says...

http://www.landregis
try.gov.uk/public/ho
use-prices-and-sales
/search-the-index
Your search results
You have selected:
Single location: SOUTHEND-ON-SEA
Date range, January 2004 - January 2014
January 2004 257.91
January 2014 306.49

That is a percentage increase of 18% in house prices in Southend over the last 10 years. A bit different from the 75% in the article.
http://www.landregis try.gov.uk/public/ho use-prices-and-sales /search-the-index Your search results You have selected: Single location: SOUTHEND-ON-SEA Date range, January 2004 - January 2014 January 2004 257.91 January 2014 306.49 That is a percentage increase of 18% in house prices in Southend over the last 10 years. A bit different from the 75% in the article. Nebs
  • Score: 4

11:52am Thu 20 Mar 14

mikepaterson says...

Utter rubbish!

I sold a flat in Sarfend about 10 years ago, I looked the other day to see what they are going for and they are going for less than I sold at!
Utter rubbish! I sold a flat in Sarfend about 10 years ago, I looked the other day to see what they are going for and they are going for less than I sold at! mikepaterson
  • Score: 5

6:13pm Thu 20 Mar 14

Idontknowy says...

Who put these figures out? Sounds like someone wants an excuse to bring back gazzumping
Who put these figures out? Sounds like someone wants an excuse to bring back gazzumping Idontknowy
  • Score: 0

Comments are closed on this article.

Send us your news, pictures and videos

Most read stories

Local Info

Enter your postcode, town or place name

About cookies

We want you to enjoy your visit to our website. That's why we use cookies to enhance your experience. By staying on our website you agree to our use of cookies. Find out more about the cookies we use.

I agree