Winchester's property market buoyed by Help to Buy Scheme, estate agent says (From Andover Advertiser)
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Winchester's property market buoyed by Help to Buy Scheme, estate agent says
12:00pm Monday 6th January 2014 in Winchester
WINCHESTER'S property market has been buoyed by the government's Help to Buy Scheme, new figures show.
The data from Fox & Sons shows the average property price in the district reached £218,955 in November 2013, up one per cent on the previous year.
That figure is also 17 per cent higher than the average for South Hampshire.
The volume of Fox's sales transactions across the city in November increased 79 per cent annually and nine per cent on the previous month.
Helen Asteris, a director at Fox & Sons, said: “The South Hampshire property market is showing no signs of freezing up as we move into the winter months, with property price growth of 6 per cent annually and sales transactions up by 29 per cent in the same period. New buyer registrations are up 41 per cent annually, a clear sign that the Government's Help to Buy initiative is stimulating demand.”
Ms Asteris added that supply levels do not match the growth, with demand for property in Winchester increasing at more than double the rate of new homes supply. She added that the resulting imbalance is pushing up prices.
Ms asteris also said that neighbouring Southampton also performed well last year.
“The Southampton market is especially strong with new buyer registrations up 55 per cent annually and property price growth of 11 per cent annually - far outstripping national levels. The growth of the commercial sector and student population means that there is a wide range of amenities and entertainment options, which is facilitating demand,” she said.
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