Rising house prices in Corby have had the greatest impact on first time buyers, according to local estate agents Belvoir.
Over the last 12 months, house prices in the town have hit a record high, inflating by as much as 10-12% depending on the location, property type and demand at the time of being listed. Currently, the average house price in Corby stands at about £200,000.
The boom follows national trends, which have seen house hunters pay a premium as property prices hit a record high post pandemic.
Bobby Singh Braich, Managing Director of Belvoir branches in Kettering and Corby believes it is those trying to enter the housing market that have been most affected by the increase.
He said: “I think that it affects first time buyers the most, as they used to be able to get a three-bed semi-detached property, but they would now have to look at a three-bedroom mid terrace for the same amount of money. However, for people who are selling and moving on, this is all relative.”
The property market was unpredictable during the Covid-19 crisis, but with changing priorities for house hunters and homeowners, estate agents have been busier than ever.
Bobby believes that the upsurge is now settling though, and should stay steady as we go into the new year.
Bobby added: “The market has already started to plateau. We feel that it will continue to do so as the world is getting back to normal. A lot of the public anticipate a price crash however we cannot see this coming.
“The reality is that Corby has now caught up with all the other surrounding towns. Take Kettering for example – in some cases Corby has overtaken Kettering now.”
For all the latest on available properties for sale, call Belvoir today on 01536 261666.
