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Harwich and Manningtree missing out on property boom
6:00pm Friday 3rd January 2014 in News
HOMES in Harwich and Manningtree are missing out on Essex’s property boom.
House prices in the CO11 and CO12 postcodes rose by only 0.6 per cent in 2013 compared to the average countywide increase of 5.3 per cent.
The Help to Buy scheme launched in April allows buyers of new-build homes to pay a five per cent deposit and take out a government loan up to 20 per cent of the property’s value has not been widely taken up in the area.
Laura Kelly from Bairstow Eves Estate Agents in Dovercourt said: “I think prices have gone up ever so slightly but no more than that.
“I think it is because of the area. A house in Dovercourt would be much cheaper than one in Colchester or Chelmsford."
First-time buyer Phil Charles who is on the verge of purchasing a new build property in Heron Way, Dovercourt was swayed by the cheaper prices in the area and is one of the people to use Help to Buy.
“It was the price that I looked at, even though Colchester is better for work I would have had to pay £30,000 more for a worse property.
“I was also eligible for Help to Buy, and without it I would have managed but I definitely would have struggled a bit."