Pirate FM News

Record Property Prices in the Southwest

news - housing

Published by the Pirate FM News Team at 7:01am 16th April 2012.

Pirate FM has learnt house prices in the southwest have hit a new record.

The average asking price has leapt £10k in a year to £270,735, according to property website Rightmove. Month on month the rise is almost 6%.

The rise is being explained by a shortage of housing stock, and higher demand during the spring.

For people like Emma Battle from Wadebridge it means her dream of getting on the property ladder is even further off. She said, "I'm a mum, I work full time, I work really hard and, at the end of the month, I haven't got any money left. I definitely wouldn't have any money to put towards a mortgage because the cost of living has gone up. I have bills to pay, rent to pay and nursery bills."

Miles Shipside, director of Rightmove, said: "Asking price records are being set in the fresh-stock-starved London and South West regions, and agents report this is also the case in markets in other regions.

"Doing research in your area is essential to gauge what type of property is in demand, how quickly it is selling and how close to the asking price is being achieved."

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