Property News

Monday, August 14, 2006

Property prices soar in Hartlepool

Hartlepool has seen one of the fastest rise in property prices in the country. It has shown a 27% increase in house prices over the last year, the average house now costing £103,905 compared to last year of £81,841.

There are mixed feelings over the increasing prices, on the one hand it shows Hartlepool's growing economy, however there is also the problem of affordable houses with the average income £17,000 many people, not just first-time buyers, are priced out of the market. Julie Richardson, owner of Richardson Real Estate, in Murray Street, said: "Property has always been cheap in Hartlepool. This has encouraged investors to buy in the town and the prices have gone sky high. But this makes it difficult for first-time buyers who now finding it more difficult to get on the ladder" Hartlepool Mail.

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