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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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House prices remain flat in East Anglia

House prices in the Anglia region remained stagnant Credit: Dominic Lipinski/PA Wire/Press Association Images

UK house prices may have seen an increase for the first time in nine months in February - but prices in the Anglia region remained stagnant.

Property analyst Hometrack spoke to more than 1,000 agents and surveyors, some of them reporting that the market conditions were less buoyant than they were expecting. Monthly prices were flat in East Anglia, along with the Midlands.

House prices remain flat in the East

House prices in the East remain flat Credit: PA

UK house prices may have seen an increase for the first time in nine months in February - but prices in the Anglia region remained stagnant.

Property analyst Hometrack says London saw month-on-month rises of 0.3%, leading to a 0.1% increase across England and Wales.

However monthly prices were flat in East Anglia, the East Midlands. Prices fell in the North East by 0.2%.

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House prices in Southend show biggest price rise

Southend where house prices are rising faster than anywhere else Credit: ITV Anglia

Southend in Essex recorded the biggest rise in house prices among major UK towns and cities over the past year, according to research by Halifax.

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The average selling price in the seaside resort was 14.8% higher than the previous year, rising to £198,418 by the end of 2012, compared with an improvement of 2.1% on average across the whole of Essex. Lowestoft in Suffolk recorded the sixth largest price rise of 12.7 %

Halifax housing economist Martin Ellis said: "Nationally, conditions in the housing market have been largely unchanged over the past 12 months with little overall movement in either house prices or sales for the second consecutive year. "

He expects continuing broad stability in house prices nationally in 2013, with the North/South divide in price performance likely to persist next year.

Mr Ellis said: "House prices are expected to be strongest in London and the South East as this part of the country performs best in economic terms."

East Anglia bucks house price trend

Olympics blamed for house price fall Credit: ITV Anglia

House prices have fallen for the third month in a row except in London and in East Anglia.

Research by Rightmove blames buyers staying at home to watch the Olympics. Today's data shows house prices in East Anglia are up by 0.3 per cent.

Elsewhere Rightmove says properties coming to market are £11,000 cheaper than they were three months ago.

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