THE priciest – and cheapest – Colchester neighbourhoods to buy a house in have been revealed.
Buyers had to fork out tens of thousands of pounds more for homes across the borough last year, according to new figures which also reveal the most expensive spots in the area.
The impact of the coronavirus pandemic, which prevented house sales during the first lockdown, coupled with stamp duty holidays, has boosted the housing market across the UK since the world opened back up in 2020.
Office for National Statistics data shows the median house price hit £300,000 in Colchester in the year to June – an increase of £30,000 compared to the previous 12 months.
House prices were also above pre-pandemic levels, with the average standing at £272,000 in the year to June 2019.
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The median – the middle number in a series – is used to ensure the figures are not skewed by extreme highs or lows.
The figures also revealed the neighbourhoods potential homeowners would have to stump up the most money to live in.
Drawing the highest median house prices in the year to June were Horkesley Heath, Langham and Dedham at an eyewatering cost of £440,000 – up from £375,000 the year before.
Lexden, which borders the prestigious Colchester Royal Grammar School, demands purchasers find £395,000 before they can reside in the area, rising by a whopping £76,000.
Meanwhile, a property in Layer-de-la-Haye, Abberton or East Mersea would cost £370,000 where previously it would have been £18,000 cheaper.
In West Mersea, properties have risen from £347,000 to £373,000 and in West Bergholt and Wormingford they now cost £358,000, in comparison to the previous £325,000.
By contrast, the area recording the lowest average house price was New Town and Hythe, where homes sold for about £210,000 in 2020-21.
The figures also show the number of homes sold in Colchester rose year-on-year, from 2,774 to 3,015.
The largest proportion were in Mile End and Braiswick, where 248 homes changed hands in the period.
Across England, residential property sales increased by 10 per cent to 761,067.
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