House prices in Corby have grown by 14% during 2022 and by a staggering 33% in the past five years, according to the latest figures from local estate agent Belvoir.
More than two thirds of the houses sold in the last three months were priced between £100,000 and £250,000. The most expensive property that the George Street agency team have sold in the last quarter of the year was priced at a whopping £565,000.
Of the sales made by the Belvoir team, eight percent were apartments, 38% terraced homes, 35% semi-detached, and 19% detached properties.
Over the last 12 months the average sales price in Corby was £209,119 and the total value of sales was £166,160,073.
Gainsborough Road takes the title for the street with the most transactions in the past three months.
Belvoir Corby managing director Bobby Singh Braich said: “The housing market has been volatile in recent years as we navigated the unprecedented waters of the pandemic. House prices have risen in Corby by almost a third, making getting on the property ladder a pipedream for some.
“Across the country, 2023 will see millions of homes facing financial difficulty and I anticipate this will mean the housing market will slow as buyers – and builders – become hesitant at making large financial investment.
“Add to that the recent dramatic hike in mortgage rates and the end of the Help To Buy scheme and it is likely that we will see the previous property boom begin to slow down in the coming months.
“But rather than house prices drop, I believe they are more likely to plateau momentarily, as demand is still there. It is a sellers’ market, as supply remains low.”
If you are keen to sell your home in 2023, visit https://www.belvoir.co.uk/corby-estate-agents/ or call Belvoir Corby today on 01536 261666.
