Out-of-towners 'pushing up prices'

Those living in and around the town of Bridlington near Hull are seeing prices pushed up by people moving in to homes from outside the area.

Local estate agent Harris Bell said this had contributed to an eight per cent rise in house prices recorded in the town by Halifax during 2007, the Bridlington Free Press reports.

Director Peter Slack told the paper: "A proportion of our property goes to out-of-town buyers, people who are looking for a weekend retreat or wanting to retire here."

While the news may be welcomed by homeowners hoping to see the values of their property rise, it is not such good news for those hoping to get on the housing ladder for an affordable price.

Aspiring property owners in such a position may wish to consider the alternative strategy of self build.

Bridlington's situation is unusual for the Yorkshire and Humber region.

The Halifax figures for this part of England as a whole indicated a much smaller rise of 1.4 per cent.


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