THE average price of a Bordon home has shot up by around 25 per cent since the new millennium started, according to a town estate agent.
A two-bedroom bungalow in Bordon, which would have been sold for £85,000 in March 2000, would now be placed on the market for £106,000.
Partner of Chapplins in High Street, William Newell, said: ÒOn average I would say house prices have gone up by about 20 to 25 per cent in the last two years. The actual figure is closer to 25 per cent though, I would say.Ó
Mr Newell told The Herald that the rise could be attributed to the shortage of properties at the moment and also the low mortgage rates that are on offer.
According to the Land RegistryÕs latest survey of property sales published recently, the average price of a terraced house in Hampshire has risen from £102,456 in January 2001 to £111,858 in January 2002, which is a nine per cent rise over the year.
The average cost of a detached home in the county was £231,564 in January 2001 and has risen by seven per cent to £248,285.
The average semi-detached home in Hampshire would have been sold for £124,939 in January 2001 but by January 2002 had risen to £138,994, an increase of 11 per cent.
The rise in house prices in the region did not surprise Mr Newell, howeve. He told The Herald that the demand for properties at the moment is Òpretty goodÓ.
ÒWe do tend to find that the smaller properties go quicker, though, because there are not many people who want to buy a large home,Ó he said.