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Housing market on the up

There's been a rise in the humber of homes being sold here in the East with experts reporting the housing market is almost as strong as it was 7 years ago.

The latest figures from the Royal Institute of Chartered Surveyors show that each surveyor's dealing with 23 sales a month here in The East of England - the highest number since February 2008.

The report says that all the signs are the housing market is showing signs of recovery across the country.

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House prices in East Anglia rising faster than most parts of the UK

House prices in East Anglia rising faster than most parts of the UK Credit: Yui Mok/PA Wire/Press Association Images

House prices in East Anglia are still rising faster than most parts of the UK despite a slight slow down during March.

In the first quarter of 2014, property prices in East Anglia rose by 2.9% according to the Nationwide building society. Only two other regions - London and the North - saw bigger rises.

The average price of a house in East Anglia is £179,718, which is 9.5% more than a year ago.

Cambridge is fourth in the list of highest rising prices after Manchester, London and Brighton.

The city saw a 14% year-on-year increase with the average house now worth £405,540 which is more than in London.

Another record high for house prices in the East

House prices have hit a record high in the east. Credit: ITV News Anglia.

House prices in the East of England have hit another record high.

The average cost of a home in this region is now £263,000, according to the latest figures from the Office for National Statistics (ONS).

In the East, the House Price Index - which measures how house prices change from one sale to the next - is now above its pre-financial crisis peak.

The charity Shelter has warned prices are "spiralling out of control".

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House prices on the rise in the East

House prices are going up. Credit: ITV News Anglia

House prices in the East hit a record high in July, according to figures out today.

The House Price Index reveals an increase of nearly 3% in our region compared to the same time last year - the highest rise outside London, with first time buyers accounting for 45% of all purchases.

House prices on the rise

House prices jumped last month Credit: ITV News Anglia

House prices in East Anglia have recorded the biggest month-on-month asking price jump according to the property website Rightmove.

They say prices in the East jumped up by 4.4 per cent. It means the average house here is now selling for over £224,538.

Across England and Wales, London was the only region where asking prices took a dip in April, falling by 0.5%, although at £493,635 on average they are still 6.2% higher than a year ago

Rightmove, whose records go back for more than a decade, tipped next month for a new asking price high, as a combination of confidence returning to the market this spring and a shortage of properties for sale continue their upward pressure on prices.

Miles Shipside, director of Rightmove, said: "With London prices pausing for breath this month but likely to bounce back next, May looks like an odds-on bet to deliver a new asking price record. More estate agents are reporting more activity in more segments of the market."

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