Mike Bell - Weston-super-Mare's next Liberal Democrat MP

North Somerset house prices slump to five year low

12.00.00am BST (GMT +0100) Tue 5th May 2009

Average house prices in North Somerset have slumped to a five year low according to the latest figures from the Land Registry obtained by Weston-super-Mare's Liberal Democrat Prospective MP Mike Bell.

Since March 2008, nearly £27,000 has been wiped off the value of the average North Somerset home.

According to the latest figures available, the average local home sold for £169,127 in March 2009 compared to £196,107 in March 2008 - a fall of 13.8% in one year.

The price of the average home sold in North Somerset is now lower than at any time since March 2004.

Mike Bell commented: "Anyone who bought a home in the last five years is now likely to be worse off as a result of the recession and the plunge in house prices. Regardless of how long the recession lasts, it is likely to take many years before the value of local homes recover the lost ground.

"At a time when people are very concerned about their job prospects, the growing threat of negative equity as house values fall will be a massive worry for many local people.

"It's not all bad news of course, with better mortgage availability and lower house prices, some first time buyers will have a chance to get on the property ladder.

"However, we need to see more Government action to help them to do that and promote stability in house prices that will benefit the economy in the long term."

According to Land Registry figures, average house prices over the last few years were:

March 2004 - £155,676

March 2005 - £171,559

March 2006 - £174,525

March 2007 - £190,539

March 2008 - £196,107

March 2009 - £169,127

Bookmark this story at: del.icio.usdel.icio.us DiggDigg FacebookFacebook LibDigLibDig redditreddit StumbleUponStumbleUpon
Print this news story.
Comment on this news story.
Previous news story: Unemployment up in North Somerset (Mon 27th Apr 2009).
Next news story: Mike comments on MPs' expenses (Tue 12th May 2009).

Related News Stories:

Mon 15th Feb 2010:

More police for North Somerset promised.

Thu 7th Jan 2010:

'Bank of North Somerset' needed to boost local firms.

Tue 1st Dec 2009:

Lib Dems slam North Somerset Conservatives over budget process.

Wed 25th Nov 2009:

1,200 empty homes in North Somerset "a disgrace".

Tue 6th Oct 2009:

More than 800 people waiting for NHS treatment in North Somerset .

Thu 17th Sep 2009:

1,000 young people jobless in North Somerset.

Mon 10th Aug 2009:

Drug crime doubles in North Somerset.

Wed 24th Jun 2009:

Government order inquiry into council publications like 'North Somerset Life'.

Mon 27th Apr 2009:

Unemployment up in North Somerset.

Fri 3rd Apr 2009:

Anti-Terrorism powers used 33 times by North Somerset Council.

Fri 23rd Jan 2009:

North Somerset jobless total up again.

Thu 15th Jan 2009:

Education figures highlight funding gap in North Somerset.

Tue 6th Jan 2009:

North Somerset house prices fall to 2006 levels.

Fri 15th Feb 2008:

Tory MPs fail to stand up for North Somerset.

Wed 25th Apr 2007:

The Liberal Democrat record on North Somerset Council.

Mon 4th Dec 2006:

100 lives could be lost this winter in North Somerset.

Wed 1st Nov 2006:

Carbon emissions in North Somerset three times global average.

Thu 23rd Mar 2006:

Budget: North Somerset council tax payers left empty handed.

Tue 6th Dec 2005:

Grant settlement for North Somerset.

Fri 21st Oct 2005:

Lib Dems pledge: we'll put North Somerset first.

Mon 18th Jul 2005:

North Somerset could hit Olympic jackpot.

Thu 2nd Jun 2005:

Thousands of North Somerset families repaying £1,000 in tax credits.

Wed 6th Apr 2005:

Lib Dems unveil plans for North Somerset families.

Wed 30th Mar 2005:

Small firms in North Somerset could benefit from Lib Dem plans.

Wed 23rd Mar 2005:

Liberal Democrats take leadership of North Somerset Council.

Wed 9th Mar 2005:

Mike welcomes pledge to help North Somerset's young homebuyers.

Wed 26th Jan 2005:

Top Lib Dem MP in North Somerset to support Mike.

Mon 24th Jan 2005:

NHS dental care on critical list in North Somerset.

Wed 5th Jan 2005:

North Somerset young urged to have their say.

Tue 21st Dec 2004:

84% of North Somerset crimes go unsolved.

Fri 3rd Dec 2004:

"Pay now, pay later" budget plans bad news for North Somerset.

Mon 1st Nov 2004:

Government underfunds North Somerset using 13 year old population data.

Fri 1st Oct 2004:

By-election result points to Lib Dem win in North Somerset.

Mon 14th Jun 2004:

Lib Dem vote on the up in North Somerset.

Thu 20th May 2004:

Bell calls for Government action on North Somerset house prices.

Mon 23rd Feb 2004:

Congestion up 14% in North Somerset since Labour came to power.

Thu 12th Feb 2004:

Mike pounds the beat with bobbies in North Somerset.

Mon 16th Jun 2003:

Tax credit chaos hitting vulnerable North Somerset families.

Tue 10th Jun 2003:

Is North Somerset losing out on Lottery cash?

North Somerset wants decision on the Euro.

Wed 28th May 2003:

Labour fails those who care in North Somerset.

Printed and hosted by Prater Raines Ltd, 98 Sandgate High Street, Folkestone CT20 3BY.
Published and promoted by Robert Payne on behalf of Mike Bell (Liberal Democrats), both at Flat 1, Wellington House, 1 Upper Kewstoke Road, Weston-super-Mare, BS23 2EP.
The views expressed are those of the party, not of the service provider.