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Clacton on Sea Market Review - November 2017We bring you the latest trends in the UK's housing market, with a detailed focus on Clacton-on-Sea.
Over the last 12 full months there have been 1,534 sales in Clacton on Sea. This is a −13% change on the previous 12 month period. The average sales price was £186,053.
House prices across the UK rose by 5.0% in the 12 months to August according to the ONS, up 0.5% on the revised figure for July of 4.5%.
In November, the Bank of England raised interest rates to 0.5%, the rst increase in over 10 years. The increase will likely be passed onto borrowers, although more than 50% of new loans in recent months have been taken out on a fixed rate deal.
There were 100,850 residential property transactions across the UK in September according to the HMRC, the ninth consecutive month of over 100,000 sales. Transaction volumes have fallen marginally over the past few months with September seeing the lowest monthly total since May.
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