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House Prices Rocket As Town Enjoys Boom

By Jo Deeks on Friday, 5th May 2006.

Haverhill has been flagged up as one of the house price hot spots in the region and one of the town's leading estate agents has described sales this year as "phenomenal".

Haverhill was second only to St Neots in Cambridgeshire for the fastest price rise in East Anglia over the past year according to the latest findings by Halifax Estate Agency.

Haverhill prices jumped up six per cent to an average of 174,800, compared to eight per cent in St Neots taking the price to 198,517.

Ian Kirkpatrick, regional manager at the Halifax said: "Haverhill is well located for access to the M11 and London and the town has benefited from the success of the Haverhill Business Park, which has attracted commercial investment and created employment."

Nigel Lambert-Jones, a director of Cooper Carder in Station Road, Haverhill, said prices were going up, especially at the lower end of the market, which was likely to have a knock on effect. "Prices are going up and the number of houses we have sold in the last couple of months has been phenomenal," he said, "Which will in itself drive prices up.

First time buyers are the people really starting to make a move, where as last year they were too frightened by scares such as negative equity. There are not that many properties at all at the moment for 120,000 or 125,000 and those that there are, are snapped up pretty quickly.

Haverhill is not far from Cambridge, with an easy drive or a bus ride, or London. The Cambridge market has become to expensive for first time buyers and a lot of people like nurses or lecturers are coming to Haverhill.

The town has elevated quite dramatically over the past 10 years and that is why people from Cambridge are willing to come here," Mr Lambert-Jones said.

Although he welcomed the hotel development and others on the industrial estate, Mr Lambert-Jones said he was concerned that the town centre could suffer in the transit period until Tesco opened and felt more investment was needed in the town's infrastructure.

Samuel Cooke, an associate at Cheffins in High Street, Haverhill, also confirmed the town's status as a house price 'hot spot'.

Mr Cooke said: "It is hard to produce an accurate guide as to by how much the average house has risen locally, simply because each house is individual, but there is no doubt that we have seen a considerable increase in demand since the new year and there is strong competition among buyers for sensibly priced and well marketed properties.

Haverhill and the general area have an awful lot to offer both in terms of facilities and comuter routes and this, combined with the wonderful Suffolk countryside, is drawing an increasing number of buyers from the Cambridge, Saffron Walden and the M11 corridor in general."

Haverhill Weekly News

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