House prices fell by -1.3% in East Anglia in Q4 2007 compared to the UK average decrease of 0.8%, Halifax has said.
Annually, house price growth in the region is 3.9%, below the UK average of 5.2%, while the fall in house prices last quarter needs to be seen in the context of strong house price growth across the region over the longer term. House prices in East Anglia have increased by 197% over the past decade.

Halifax said Great Yarmouth recorded the biggest rise in price in the region over the past year with a 23% increase, followed by St Neots (18%) and Huntingdon (14%). Cambridge remains the most expensive town in the region with an average price of £296,727. Lowestoft is the most affordable town with an average house price of £155,293.

At £190,984, the average house price in East Anglia is 3% below the UK average of £197,071.

David Whitehead, Regional Manager, Halifax Estate Agency, comments: “The housing market in East Anglia has been more subdued in the second half of 2007. Annual house price growth in East Anglia, at 3.9%, is below the UK average of 5.2%.

In the past quarter house prices fell by 1.3%. However, this needs to be seen in the context of strong house price growth across the region over the longer term. House prices in East Anglia have increased by 197% over the past decade.

The average house price in East Anglia now stands at £190,984, 3% below the UK average of £197,071. The biggest rise in average house price over the past year was in Great Yarmouth, which saw an increase of 23% to £167,847. This was followed by St Neots with a rise of 18% to £243,218.

“After Cambridge (£296,727), Sudbury (£260,651) is the most expensive town in the region. Lowestoft is the most affordable town (£155,293), followed by Wisbech (£157,892).”