AVERAGE house prices in the Vale have climbed by nearly four per cent in the last year, adding more than £7000 to property values, according to new figures.
Data from the property website Rightmove has found the average house price in Evesham now stands at £214,671 in 2017, up from £206,895 the previous year.
The 3.75 per cent increase means property buyers will have to find, on average, an extra £7,776 to buy their new home as a result.
In Pershore the average house price is now £235,745 – although overall sold prices in the town over the last year were down by 7 per cent on the year before.
According to house sales over the last year, detached houses in Evesham can now fetch up to £289,399 while terraced properties had an average sale price of £165,386 and semi-detached properties averaged at £199,095.
Speaking to the Observer, local estate agent Tom Tarver, a partner at Johnson’s Property Consultants, predicts the market will be less competitive for first-time-buyers this year, despite house prices rising again.
“Those looking to buy a home in the spring and summer of 2017 will likely face a less competitive Evesham property market than the same time last year, when the urgency to beat the buy-to-let stamp duty hike was in full swing,” Mr Tarver said.
“Many landlords brought forward their purchases to beat the tax, and since then, the number of buy-to-let purchases has dropped slightly.
“First time buyers have taken advantage of that and have increased their buying, which I believe is a ringing endorsement of their confidence in their jobs and the local Evesham economy.
“Those 20 and 30 something’s who are considering becoming first time buyers in 2017 will benefit from a greater choice of properties and less competition from buy-to-let landlords, compared to 2016.”
