Falling figures in home market

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FILEY’S housing market has taken a slight hit, according to a new report.

The average price for a property across the Filey area is now £152,863, which represents a drop of £2,472 during the last 12 months.

The slump followed a £2,962 increase in 2009 and reflect the unpredictable nature of the property market.

Detached properties are more than £6,000 cheaper and terraced homes are £4,972 down on prices a year ago, according to the statistics.

However, the figures revealed 451 properties changed hands throughout the last year, with an average price laid out by new owners of £162,621.

The most expensive place to live according to the research was in Main Street, Gristhorpe, which had an average property value of £287,134.

Muston’s King Street was shown to have an of average £287,038, with Malton Road, in Hunmanby, hitting £285,301.

Rosemoor Close, in Hunmanby, was recorded as having the highest turnover of sales with 45.5 per cent of properties changing hands during the last five years.

Grimston Road, also in Hunmanby, saw a 41.9 per cent turnover according to the figures.

Filey’s Melville Terrace experienced a 41.7 per cent change in the same period.

David Chapman, partner at CPH Property Services, which has a branch in West Avenue, said the market was showing signs of getting better.

He added: “People still believe investing in bricks and mortar is a good investment, and a lot of investors do turn to terraced properties, as well as first time buyers.

“In general things are picking up and the signs leading up to Christmas showed things should continue to improve in 2011.”