Home prices in Kettering rise as town hits top 20 list for real estate

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Rising house prices in Kettering have made the region a real estate hotspot, with values ​​climbing 14.8%, more than double the UK average.

According to figures from Halifax, the average price of a house reached £ 285,103, the second highest rise in the East Midlands region and the 13th largest jump across the country.

Good value for money and located close enough to travel to London, demand has seen prices rise on average in Kettering by £ 36,783.

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Tom Howling of Sell iT in rue Montagu, Kettering

Tom Howling, Sales and Rentals Manager at Montagu Street-based Sell iT, said: “It’s because Kettering has been so cheap for so long. We are only an hour from London and prices are up to where they should be.

“Rental prices have gone up, causing house prices to go up. Buyers are willing to pay more and buyers have to compete with each other.

“In my opinion we are at a peak. We are seeing three bed semi trailers on the Ise Lodge for £ 240,000, up to £ 299,000 for a beau. Last year it was 200,000 at £ 225,000. “

Mortgage advisor Ian Wilson, managing director of The Mortgage Store in Gold Street, has researched financial products for his clients for 25 years and he believes part of the boom is due to the change in working from home due to the pandemic of Covid.

Property prices in Kettering are on the rise

He said: “Kettering is a very good commuting area for London. With the pandemic, people are working from home. People don’t have to live in London, they can just go to the office once a week.

“There is a lot of new construction but there is a shortage of used properties. For every property on the market, there are 12 to 15 people who want to buy it.

Mr. Wilson has dealt with customers across the country and has noticed that prices are going up because of the shortage.

He said: “We are organizing buy-to-rent mortgages. But it’s the house prices that have gone up because there is a shortage and because there is a shortage of properties, real estate agents are pushing forward. and push the prices up. Sometimes we find that when people bid, when an independent mortgage appraiser looks at the property, it can be £ 10,000 less than the price being offered. “

Ian Wilson of the Mortgage Shop in Gold Street, Kettering

Topping the national list was Taunton in Somerset, identified as the hotspot for UK house prices, with property values ​​rising more than three times the national average. London was not on the top 20 hotspots list.

Newark topped the boom in house prices in the East Midlands with a 20% increase – and the UK’s second largest.

Halifax Managing Director Russell Galley said: “As the capital of Somerset, this year’s winner of this year’s property award, Taunton, has a lot to offer homebuyers with its high quality of life and its excellent transport links to major cities in the southwest.

“Many areas that have experienced the strongest growth in house prices over the past year enjoy a combination of affordability and space superior to those of neighboring cities.

“Places like Bolton, Newark, Bradford and Hamilton – where there is a wide range of property types and settings – all offer significantly better value than their more metropolitan neighbors.”

Of the last 20 to see price cuts, eight were in London.

The average price of a house in the UK in 2021 was £ 323,355, but the average price of a house in London was £ 554,684.


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