Asking Price of Houses for Sale in Bognor Regis See an Increase
Despite the country-wide credit crunch, houses for sale in Bognor Regis have experienced steady and healthy growth as of late. Situated on England’s gorgeous south coast, Bognor Regis is one of the country’s most picturesque destinations. The wealth of natural beauty in the surrounding area, often favourable weather, and handful of entertainment venues also make Bognor Regis one of southern England’s premier tourist spots.
The charming town is home to a wide array of 7-figure homes, many of which are nestled in private estates along the coastline. Although few locales have been immune to the woes of the current property market, houses for sale in Bognor Regis have remained relatively steady.
According to property portal, Rightmove, in October of 2011, homes in the southern part of England experienced a 4.7% increase in sale price, a figure which includes the Bognor Regis market.
A quick search on Rightmove for houses for sale in Bognor Regis will return a number of homes currently listed for more than one million pounds. Many of these homes are in the tranquil and highly desired Summerley, Craigwell and Aldwick Bay Estates. In contrast, it’s quite possible to find affordable flats or studios in Bognor Regis for less than £100,000.
There may be no better time than now to invest in Bognor Regis property. Aside from encouraging increases in home prices in the area, mortgage approval rates are currently at two year highs, according to a Reuters report. Although the increased prices may deter some buyers, the promising swing in mortgage approval rates should provide optimism for investors. Higher approval rates are making it easier to obtain funding and more competitive interest rates. What’s more, quite a few home owners are still eager to sell their Bognor Regis property. Obviously, as home prices in southern England continue to surge, buyers can be confident that their investment will continue to grow in value.