Property prices in Burnham-On-Sea and Highbridge have risen by around five per cent over the past year in a ‘buoyant’ market.
Estate agents in Burnham-On-Sea say the market is strong and further price rises are expected this year.
Julian Frost at Abbott and Frost told Burnham-On-Sea.com: “The market is buoyant with plenty of interest in Burnham-On-Sea and Highbridge – we’ve seen a five per cent increase across the board. More rises are expected this year.”
Property firm Right Move agrees: “During the last year, sold prices in Burnham-On-Sea were 5% up on the previous year, and 10% up on 2007 when the average house price was £189,871.”
“In 2016 most property sales in Burnham-On-Sea involved detached properties which sold for on average £284,694. Semi-detached properties sold for an average price of £199,420, while terraced properties fetched £162,625.”
“Burnham-On-Sea’s overall average property price of £208,935 was more expensive than nearby Highbridge at £161,046, but was cheaper than Brent Knoll at £310,812 and Brean at £247,535.”
Online property firm Zoopla has seen a smaller price: “In the past year property prices in Burnham-On-Sea have increased 3.09%.”
The increases are a concern, though, among many younger people who are finding it difficult to get their foot on the property ladder for the first time.
“House prices in Burnham are rising at a far higher amount than salaries and it’s just not possible to buy for many people my age – renting is the only option at the moment,” said Tim Smith.
