Bristol house prices increased slightly in July

House prices increased slightly, by 1%, in Bristol in July, new figures show.

The rise contributes to the longer-term trend, which has seen property prices in the area grow by 0.2% over the last year.

The average Bristol house price in July was £346,953, Land Registry figures show – a 1% increase on June.

Over the month, the picture was different to that across the South West, where prices decreased 0.2%, and Bristol was above the 0.5% rise for the UK as a whole.

Over the last year, the average sale price of property in Bristol rose by £800 – putting the area 15th among the South West’s 26 local authorities with price data for annual growth.

The highest annual growth in the region was in the Forest of Dean, where property prices increased on average by 5.9%, to £321,000. At the other end of the scale, properties in West Devon lost 3.1% of their value, giving an average price of £312,000.

First steps on the property ladder

First-time buyers in Bristol spent an average of £313,854 on their property – £15 more than a year ago, and £59,879.0727 more than in July 2018.

By comparison, former owner-occupiers paid £388,315 on average in July – 23.7% more than first-time buyers.

Property types

Owners of terraced houses saw the biggest rise in property prices in Bristol in July – they increased 1.2%, to £363,588 on average. Over the last year, prices dropped by 0.1%.

Among other types of property:

• Detached: up 0.9% monthly; up 0.6% annually; £675,433 average
• Semi-detached: up 1.1% monthly; up 0.2% annually; £436,669 average
• Flats: up 0.6% monthly; up 0.5% annually; £259,567 average

How do property prices in Bristol compare?

Buyers paid 7.2% more than the average price in the South West (£324,000) in July for a property in Bristol. Across the South West, property prices are higher than those across the UK, where the average cost is £290,000.

The most expensive properties in the South West were in Cotswold – £482,000 on average, and 1.4 times the price as in Bristol. Cotswold properties cost 2.2 times the price as homes in Plymouth (£223,000 average), at the other end of the scale.

The highest property prices across the UK were in Kensington and Chelsea.

Factfile

Average property price in July

• Bristol: £346,953
• The South West:£323,713
• UK: £289,824

Annual change to July

• Bristol: +0.2%
• The South West: -1%
• UK: +0.6%

Highest and lowest annual growth in the South West

• The Forest of Dean: +5.9%
• West Devon: -3.1%