HOUSE prices in Hertfordshire
have shot up by at least 16315,000
in 12 months, Land Registry fig-
ures reveal.The average cost ofa property
has jumped from 163239,384 in
March 2007 to 163256,881 in March
this year.
Prices continue to increase
steadily month by month, with
the latest statistics showing a rise
ofmore than 1631,000from
February to March, although the
annual rate has dipped slightly to
7.3 per cent.
Nationally, the Land Registry
reports a seventh consecutive
monthly fall for the average house
price, which at 163184,798 still shows
an annual increase of3.6 per cent.
In Herts, the number ofsales
has plummeted from 1,932 in
January 2007 to 1,108 in January
this year, a fall of42 per cent.
However, house sales typically
decrease after Christmas so this
may not be a strong indication of
the current level ofsales, figures
for which are not yet available.
Estate agents in the
Mercury
patch have not experienced major
price differences in houses,
although they do admit that sales
in some sectors ofthe market
have slowed slightly.
James Berry, sales manager of
Steven Oates in Fore Street,
Hertford, said: 8220We haven8217t seen a
huge drop or a huge increase in
prices. What we are seeing is a
consistent level ofproperties
being sold at the guide price or
very close to it.
8220The difficulties in getting a
mortgage have had an effect on
the amount ofhouses being sold.
8220The number ofproperties has
gone down because ofthe influ-
ence ofthe banks and the chang-
ing oftheir criteria.
8220Housing at the top end ofthe
market is still moving along very
well. There is less available for
people to buy at a lower level.8221
Paul Leadley, a partner at Paul
Wallace, which has branches in
Hoddesdon High Street and
Cheshunt8217s Brookfield Centre, is
optimistic for the future.
He said: 8220I think prices are the
same today as they were a year
ago. The problem we have is
there8217s too much choice.
8220Housing is taking longer to sell
because ofthe choice out there,
but ifsomething8217s nice and a com-
petitive price, it will still sell.
8220The situation will get better.8221
Rikki Heath, Ware branch man-
ager ofEnsum Brown, which also
has a Buntingford office, said:
8220There8217s more property available
than there was this time last year.
8220Sometimes agents are guilty of
pushing prices up, but there8217s still
a good market. I don8217t think prices
have gone up locally.8221
He said the first-time buyers8217
market had slowed and that Ware,
which has hundreds offirst-time
homes, had suffered more than
Buntingford, where there are
mostly family houses with three
or four bedrooms.14MMERCURY May 9, 2008
email: mercury@hertsessexnews.co.ukChoice of
mortgage
is limited,
says brokerYoung Parliamentarian makes Lords historyPrice of
houses
rising
in HertsPROSPECTIVE house buyers are
finding it harder to get on to 8211 or
move up 8211 the property ladder,
according to an independent
Hertford mortgage broker.
David Yates, ofLifestyle Mortgages
in Fore Street, believes the national
credit crunch and the weakening
housing market means local buyers
are finding their options becoming
more and more reduced.
8220The choice ofmortgages I can give
people is getting severely limited,8221
said Mr Yates.
8220There are less and less providers
and still the same amount ofpeople
looking to buy and remortgage.8221
First-time buyers are particularly
feeling the strain, with very few 100
per cent mortgages available and
all home-owners at the whim ofa
shaky market, he added.
Mr Yates said: 8220Actually, getting a
mortgage is becoming more
difficult. I can get a mortgage for
anybody, but it might not be what
they want. It might be a higher
rate.
8220We8217re working with a much
smaller pool ofmortgages. The
market is that unpredictable. I can
send out rates to people today, but
those rates might be pulled
tomorrow.8221
However, the broker has not noticed
a drop in business.
He said: 8220I don8217t seem to see any
change in the amount ofmortgages
and remortgages that I do normally.
8220As many people are buying houses
in our local area as they were 12
months ago.
8220It seems as though the appetite for
property locally remains strong.8221
The average price ofa house in the
South East region ofEngland for
the first quarter ofthis year was
163258,529 in the latest Halifax House
Price Index, unchanged from the
previous quarter.
Year on year, the price ofproperty
increased by 3.3 per cent in the
region, says the Halifax, which also
says it has shot up 169 per cent in
the past decade.A SIMON Balle School
student made history
when he opened and
closed a debate in the
House of Lords.
Alex Knight, 15, of
Bengeo, Hertford, was
among 300 UK MYPs
8211 members of the UK
Youth Parliament 8211
who were invited to
sit in the Houses of
Parliament for the first
time.
In the historic move,
young politicians from
all over the country
took part in a series
of debates in the
chamber of the
house.
All six Hertfordshire
MYPs attended the
three-hour sitting.
Alex opened and
closed the debate on
whether the voting
age should be
lowered to 16.
8220I was nervous, but as
soon as I got up there
I didn8217t feel as
anxious as I thought I
would,8221 he said. 8220But
as soon as I sat down
I felt my legs go
wobbly because it
was such a big
occasion.8221
MYPs work to get the
views of 11- to 18-
year-olds heard at a
national, regional and
local level.
The debates were
chaired by the Lords
Speaker, Baroness
Hayman.The debate
will be shown on the
BBC Parliament
channel later in the
year.Month
AverageMonthlyAnnualSales
price (163)change (%)change (%)volume
January 2007
234,0390.9
6.91,932
February
236,4411.0
7.81,822
March
239,3841.2
8.72,129
April
242,5841.3
9.51,936
May
244,2940.7
9.92,310
June
245,7870.6
9.92,599
July
247,6850.8
10.12,581
August
249,7720.8
10.32,623
September
251,0950.5
10.02,067
October
252,6420.6
10.02,113
November
253,1890.2
9.72,155
December
253,9110.3
9.51,771
January 2008
254,7440.3
8.81,108
February
255,2960.2
8.0-
March
256,8810.6
7.3-Source: Land RegistryBy SARABLACKblacks@hertsessexnews.co.ukAVERAGE HOUSE PRICES FOR HERTSPROPERTIESFORSALE:James Berry, sales manager at Steven
Oates estate agents in Fore Street, HertfordPhoto: WMKQWY2J.04LORDS FOR A DAY: Alex Knight, second right, with fellow Herts MYPs,
from left, Colette Lewis, Megan de Meo, Anthony Maher, Hailey Badger,
and James Doyle-Tanner outside Parliament;
right, the Lords debate (s)163260,000
163250,000
163245,000
163240,000
163235,000
163230,000
163255,000Jan 07 Mar 07 May 07 Jul 07 Sep Nov 07 Jan 08 Mar 08 AVERAGE PRICE (163) SALES VOLUMEMonthHertfordshire House Prices and Sales Volumes
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