A RESPECTED Evesham estate agent has refused to call a rise in house prices in the Vale a ‘boom’ despite more than £10,000 being added to the value of town properties.
House prices have climbed by five per cent in just one year according to new figures from Rightmove, after more than 1,000 property sales in the town in just one year.
The average house price now stands at £206,895 which means potential property buyers will have to find, on average, an extra £10,344 to buy their new home as a result.
Detached houses in the town can now fetch up to £288,256 while terraced properties had an average sale price of £160,097 and semi-detached properties averaged at £188,847 according to house sales over the last year.
Local estate agent Tom Tarver, a partner at Johnson’s Property Consultants, said the long-term outlook for property prices in Evesham was ‘good’, but warned there could be a slowdown in the market due to the uncertainly over the EU referendum.
“Whilst I do feel that the longer term prospects for house prices in Evesham are good, I’m more cautious about predicting short term house price fluctuations and certainly labelling any current increase as a ‘boom’,” Mr Tarver said.
“The upcoming stamp duty premium on buy to let and second homes is very likely to have an impact on the market.
“Coupled with uncertainty over the result of the EU referendum in June, it seems likely that we shall see a general slowdown in the market over the coming months,” he added.