Published: October 26, 2007
New figures show house price rises in Burnham 'starting to cool off'

New figures released this week show the UK's property boom has led to a huge surge in house prices of up to 115 per cent in Burnham-On-Sea during the last seven years, but there are signs that the market is 'cooling'.

Official statistics from The Land Registry show the cost of properties has consistently increased during the last seven years - as shown above - although there has been a sign of a slight slow-down in recent months.

The average selling price of a Burnham-On-Sea semi-detached property in 2000 was £96,139, but seven years later it is £207,000 - a jump of 115 per cent. Flats and terraced properties have seen smaller increases.

During the last 12 months alone, the figures indicate that house prices in Burnham-On-Sea have jumped by an average of 17 per cent.

The picture is bleaker for Highbridge, though, with the price of terraced houses falling 12 per cent this year and flats decreasing by 13 per cent in the same period.

Local estate agents say the figures are a good guide, although they believe the actual increases in Burnham are probably not as steep as indicated, and that the market is slowing.

Julian Frost of Abbott and Frost estate agents in College Street told Burnham-On-Sea.com: "Our figures shows Burnham has seen an average increase of around 10 per cent over the last year."

"While the year as a whole has been good, September and October have been slower for sales than normal and the steam appears to have gone out of the market."

He added that the amount of available property on sale in Highbridge is one of the reasons for the price falls there.

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