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Last Updated: Thursday, 1 May, 2003, 08:59 GMT 09:59 UK
'Property boom' in Durham town
Browsing for a house
Prices in Durham City are rising

A town in the north-east of England has reversed the trend in the stuttering property market, by seeing prices rise.

While house prices in the south of England have started to stall, and even fall, there's been a mini property-boom in Spennymoor in County Durham.

The average house price has gone up 3% in the last two months, to an average of �57,696.

Part of the rise has been put down to the fact that housing in nearby Durham City is too expensive, and that the town is near to the A1 motorway.

'Very popular'

Julie Forbes, of the Halifax Estate Agency in Spennymoor, said: "We are very, very, busy, and prices are surprising us.

"Traditionally Spennymoor has not been a very good saleable area, but at the moment properties are selling overnight.

"At the moment prices in Bishop Auckland and Durham City are so high, that Spennymoor is becoming very popular.

"People are relocating and commuting to Durham City. It is also an attraction that the A1 is so close."




SEE ALSO:
House prices at a standstill
30 Apr 03  |  Business



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