What has happened to house prices in Bedford over the last 12 months?
Anyone looking at the area of Bedford as a potential place to stay or invest in will have an interest in local house prices in the last 12 months. While it is impossible to fully predict the future from information of what has already happened, aspects like property prices can provide buyers and investors with vital information.
On the whole, the market for property in Bedford has risen in the past 12 months and this has been borne out by an overall rise in house prices. With strong road and rail transport links (including a 35 minute journey to St Pancras station), Bedford is viewed by many people as a suitable location for a commuting lifestyle but it also provides a lifestyle that is far removed from the hectic pace of modern life. For families looking to combine friends, families and requirements in both the south and the Midlands, Bedford is regarded as an excellent location that provides the best of both worlds.
With respect to property prices between October of 2014 and October of 2015, there was an overall rise in the selling price of properties in Bedford by 5%. The figures for October 2014 stood at £209,793 and the figures for October 2015 reached £221,187.
Semi-detached properties have been the most consistent with respect to price
As you would expect, the individual breakdown of property types are of more interest than the general figures for an area and the change in property type prices in Bedford are more indicative of what has been happening in the market in the past year.
The smallest change in property prices in Bedford has come with respect to semi-detached homes. In October 2014, the average selling price was £240,678 and in October 2015, this figure rose to £241,984 a rise of just 1%.
Clearer changes were found in the other property types found in Bedford. Detached properties had an average selling price of £308,312 in October 2014 but by October 2015, this figure had risen to £333,775 which represents a rise of 8%. The figure for flats in October 2014 was £117,295 and in October 2015, this figure had risen to £130,556 a rise of 11%.
Terraced properties have experienced the largest rise in the past 12 months
However, the largest rise in this time period for properties in Bedford was with respect to terraced properties. In October 2014, the average selling price of terraced properties was £163,244 and in October 2015, this had risen to £189,847, a rise of 16%.
The heart of Bedford hosts a conversation area, provides easy access to a number of well-regarded schools and is very handily located to the train station that serves London as well as Brighton, Leicester, Nottingham, Sheffield and Leeds.
As the London property market continues to be unsuitable for many people and the benefits offered by Bedford become more apparent, there is no reason why the rises in property prices in this part of the country will come to an end in the near future. This means that anyone looking to buy or invest property in Bedford can still find a good option long before the market peaks.