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Exiting Londoners by-pass Home Counties

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by Gill Montia

Acadametrics, the firm of economic analysts focused on housing, has published a report showing that property prices in the South-West of England have been increasing at a faster rate than those in the South-East.

According to Acadametrics, average house prices in the South-East rose by 8.6% over the past year, whilst the cost of a home in the South-West increased up by 10.1%, in the same period.

The average house price in the South-West (£233,550) is still lower than in the South-East (£260,000) but the gap is likely to narrow.

Londoners leaving the city in search of a better lifestyle and a bigger home are looking further afield than the Home Counties.

With the average cost of a home in London at £350,000, the South-West is attractive to those retiring from the capital to take advantage of equity gains.

However, family properties still within commuting distance of London are to be found in areas such as Swindon and Peterborough, for less than £250,000 (which is the threshold for 3% stamp duty).

With this in mind Acadametrics sees prices in East Anglia continuing to rise strongly; the average property price in the region has now passed the £200,000 mark.

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News posted: August 17, 2007

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