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House Prices

Then and now

No matter what or where a residential property in the Taunton area may be, it’s value will have risen by an average of 10% during the last twelve months. This indicates that a house purchased for £250,000 last spring should now be worth around £275,000 and when looking at the miserable returns from banks and building societies, what an incredible return that is!

On the theme of rises in the housing market, flicking through the files of the Willey archives at the weekend, I had to stop and re-read a twenty five year old pull-out from the Somerset County Gazette while scanning our double page spread within, to compare local house prices then and now. Here are a few examples which resulted in sharply raised eyebrows ….

An impressive 1930’s 3 bedroom detached house in posh Manor Road near the hospital was available for £107,950 (now more like £500,000).  Over at Creech St Michael you could secure an almost new 3 bedroom detached house in Ryesland Way for £89,950 (today you’ll get little change from £375,000).

If you were looking for a bungalow in the mid-nineties we’d have been offering you a charming 3 bedroom detached version in the sleepy village of Hatch Beauchamp for £79,950 (presently more like £375,000) and for a fairly typical 3 bed semi in Blackbook we’d have been asking you for a tidy £59,950 (the going rate now is pretty close to £300,000).

There’s no doubt house prices are at an all-time high which must please anyone considering a sale. There’s unlikely to be a better time – with the storm clouds of extreme economic hardship looming into view, these halcyon days cannot continue indefinitely.

 

 

By Chris Willey
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