The latest Pricewatch survey released by Cambridge Building Society shows that during 2006 Cambridge house prices have increased steadily. In addition, 2006 was a record-lending year for Cambridge Building Society - further evidence of a buoyant market.
Caroline Togher, Head of Strategy and Marketing at Cambridge Building Society, reported:
"In the past two months prices in the City have increased on average by 1.77%, a decrease of 0.79% on the figures recorded during September and October.
"Year on year, prices recorded for Cambridge from December 2005 to December 2006 have increased by 12.58%. This growth is 2.72% higher than the previous year, December 2004 to 2005, when the annual increase was 9.86%.
"From January to June we saw the average house price in the City increase by £3,300 to £185,000. In the second half of the year the growth was more rapid, with City house prices increasing by £14,500 to £199,500."
Cambridge House prices 2004 - 2006 (year-on-year figures)
|
For the year |
Detached |
Semi-detached |
Large Terrace |
Small Terrace |
|
2004 |
Up 1.54% |
Up 2.14% |
Up 2.45% |
Up 2.92% |
|
2005 |
Up 6.96% |
Up 11.38% |
Up 10.83% |
Up 11.42% |
|
2006 |
Up 10.34% |
Up 12.96% |
Up 14.19% |
Up 13.55% |