South Gloucestershire house prices held steady in September
House prices remained steady in South Gloucestershire in September, new figures show.
The lack of movement maintains the longer-term trend, which has seen property prices in the area suffer a 1.1% annual decline.
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Hide AdThe average South Gloucestershire house price in September was £347,441, Land Registry figures show – largely unchanged from August.
Over the month, the picture was similar to that across the South West, where prices decreased 0.1%, and South Gloucestershire was above the 0.5% drop for the UK as a whole.
Over the last year, the average sale price of property in South Gloucestershire fell by £3,700 – putting the area 14th among the South West’s 26 local authorities with price data for annual growth.
The highest annual growth in the region was in Bath and North East Somerset, where property prices increased on average by 3.8%, to £454,000. At the other end of the scale, properties in West Devon lost 7.8% of their value, giving an average price of £308,000.
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First-time buyers in South Gloucestershire spent an average of £293,100 on their property – £3,200 less than a year ago, but £55,000 more than in September 2018.
By comparison, former owner-occupiers paid £391,200 on average in September – 33.5% more than first-time buyers.
Property types
Owners of flats saw the biggest fall in property prices in South Gloucestershire in September – they dropped 0.3% in price, to £192,866 on average. Over the last year, prices dropped by 0.7%.
Among other types of property:
- Detached: up 0.1% monthly; down 0.5% annually; £577,539 average
- Semi-detached: up 0% monthly; down 1% annually; £372,944 average
- Terraced: down 0.1% monthly; down 1.9% annually; £291,202 average
How do property prices in South Gloucestershire compare?
Buyers paid 5.7% more than the average price in the South West (£329,000) in September for a property in South Gloucestershire. Across the South West, property prices are higher than those across the UK, where the average cost is £291,000.
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Hide AdThe most expensive properties in the South West were in Cotswold – £503,000 on average, and 1.4 times the price as in South Gloucestershire. Cotswold properties cost 2.2 times the price as homes in Plymouth (£224,000 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 September
- South Gloucestershire: £347,441
- The South West:£328,668
- UK: £291,385
Annual change to September
- South Gloucestershire: -1.1%
- The South West: -1.6%
- UK: -0.1%
Highest and lowest annual growth in the South West
- Bath and North East Somerset: +3.8%
- West Devon: -7.8%