Property prices in Burnham-On-Sea are beginning to show early signs of a recovery after several years of stable values.
Estate agents in the town say interest among buyers is returning and some property is beginning to increase in value.
Paul Gass at Berrymans told Burnham-On-Sea.com this week: “The south east of the country has been leading the property increases, but there are definitely positive signs here in Burnham.”
“Bungalows are where the biggest demand currently is in Burnham without a shadow of doubt. They are showing healthy gains and are definitely rising in value.”
“But those increases have not filtered through to houses yet because there is so much stock around. However, it looks as though 2014 will be a good year and we’re expecting some steady increases linked to inflation.”
Julian Frost at Abbott and Frost added: “House prices in Burnham have been stable since 2010 but there’s plenty of activity and positivity in the market.”
“While we haven’t seen any real gains here in Burnham’s housing market yet, I do expect to see some increases filtering through during the next 12-18 months.”
The comments come as new figures from the Office for National Statistics showed house prices in London outpaced those in the rest of the country by a factor of 10 times. Average house prices rose 3.7 per cent during the 12 months to July.
