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Independent mortgage advisors Bristol Mortgage Broker comment on 2012 house price data for the south-west, compare Bristol prices with national trends and look at local prospects for 2013.
Bristol, UK (PRWEB) January 11, 2013
Research by BristolMortgageBroker.co.uk, the independent mortgage broker specialist based in Bristol, Uk, reveals that the city of Bristol recorded the 5th largest house price increases in 2012.
The latest house price figures released by the Land Registry have made interesting reading for those looking to buy and sell property in Bristol and the south-west. While national house price trends for the year to the end of October 2012 have shown positive but slow growth (an average rise of just 1.1 per cent across England and Wales), Bristol’s house prices saw a 3.3 per cent increase over the same period.
In general, the south of England fared better than the northern counties, with Greater London’s 7 per cent house price rise standing in stark contrast to a 5.8 per cent drop in prices in the north-east.
“Even among its neighbouring counties in the south-west, Bristol’s house prices have performed well,” said Graham Cox, co-founder of local mortgage specialists Bristol Mortgage Broker. “Bristol house prices recorded a 3.3 per cent increase over the year. This compares with just 0.9 per cent in Gloucestershire, and a 3.2 per cent fall in Somerset, both neighbouring counties. In fact, only London, Brighton and Hove, Merthyr Tydfil in south Wales, and Surrey recorded larger increases last year.”
The Land Registry’s report also provided an interesting perspective on the relative house price performance of different types of properties. Flats and maisonettes saw the biggest price rise over the year, with an average increase of 2.8 per cent. Detached houses, on the other hand, increased by just 0.1 per cent.
“Detached houses by their very nature are more expensive both to buy and to maintain,” said Cox. “The Land Registry’s figures probably reflect the fact that, in these tougher economic times, a detached property may be beyond the current means of many house buyers.”
While house prices have been notoriously volatile in recent years, the team at Bristol Mortgage Broker are cautiously optimistic about Bristol’s fortunes for the coming year and beyond. “Averaged across the country, house prices have seen a slow but sustained growth over the past year, and the figures for Bristol have been particularly encouraging. We’re hopeful that we’ll see this trend continuing throughout 2013.”
The full article, titled: "House prices in Bristol: 2012 and Beyond" can be read here.
Bristol Mortgage Broker provides independent, whole-of-market mortgage advice to house buyers and remortgage customers. The company’s website at http://bristolmortgagebroker.co.uk offers a Quick Quote service, or alternatively call 0117 321 0420 to speak to an expert and get a no-obligation mortgage quote.
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