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Newbury property market slowdown
21st February 2006 1.40am
 
House prices in West Berkshire fell by 4% in the run-up to Christmas, bucking a trend against the steady upward trend experienced in the rest of the county.

Analysis by newbury.net shows that a typical house in the Newbury area cost £250,000 in the three months to December, down from £261,000 over the same period the year before.

Nearly 1000 properties changed hands over the period, against 700 the year before, while Newbury’s flat-building phenomenon seems the best explanation for the fall in overall prices.

Flat sales now account for a quarter of all completions. Around 130 flats usually change hands every three months, but in the run-up to Christmas that figure rose to 180.

West Berkshire house prices are still around 15% above the South East average, and only surpassed by continuing rocketing prices in Windsor and Maidenhead. The markets in Slough, Reading and Bracknell remain fairly flat, while Bracknell reported sharp rises.

 
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