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Agents reject Hunstanton house price fall claims

Business news from the Lynn News, lynnnews.co.uk, @lynnnewscitizen on Twitter

Business news from the Lynn News, lynnnews.co.uk, @lynnnewscitizen on Twitter

Estate agents in Hunstanton have rejected claims the property market is on the slide amid reports prices there are falling faster than almost anywhere else in the country.

A report by property website Zoopla, which was featured in the Sunday Times last week, said average house prices in the town had fallen by 4.83 per cent since last October.

The report claims that the average home in Hunstanton now costs just over £245,000, compared to around £258,000 last autumn.

And the reported fall is the second highest in the country, behind Helensburgh in Scotland, where the drop in prices is said to be just over five per cent.

But Peter Scott, associate director of Sowerby’s in the town, dismissed the findings as “complete nonsense.”

He said he was confident that an analysis of the homes his company had sold in recent months would show an upward trend.

He added: “To suggest Hunstanton is one of the biggest drops, I think, is way off the mark.”

Sue Wood, a partner at the Martin and Schofields agency, was also surprised by the findings.

She said: “We can’t get enough on the market.”

She said that properties were generally being sold for much nearer to their asking prices than at the same point last year.

And she believes that Hunstanton is now starting to feel the benefits of its location near the traditionally popular north coast area around Brancaster and Burnham Market.

She said: “We’re getting emails through websites like Right Move and Zoopla asking for properties on Norfolk’s champagne coast. We know that Burnham Market and Brancaster are more expensive than Hunstanton but that area is spreading.

“We are getting people that want to be in Hunstanton because they feel if they buy in Hunstanton you have got more of a choice of places to go to eat without getting the car out.”

Sharon Smith, branch manager of William H Brown, said the market had remained “fairly level” overall, but particular types of home were on the up.

She said prices for two-bedroom bungalows in the town had risen by around five per cent, to around £200,000, in recent months.

Meanwhile lower prices are also helping to bring more people both to Hunstanton and villages like Ringstead and Docking, which have not been as popular before.

Mrs Smith said: “People have realied the cost of having something on the Champagne Coast.

“People can see they can get double their money if they start at Hunstanton, rather than Old Hunstanton.”

 

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