South Gloucestershire house prices dropped slightly in April
House prices dropped slightly, by 0.2%, in South Gloucestershire in April, new figures show.
But the drop does not reverse the longer-term trend, which has seen property prices in the area grow by 7% over the last year.
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Hide AdThe average South Gloucestershire house price in April was £353,039, Land Registry figures show – a 0.2% decrease on March.
Over the month, the picture was different to that across the South West, where prices increased 0.2%, and South Gloucestershire was lower than the 0.5% rise for the UK as a whole.
Over the last year, the average sale price of property in South Gloucestershire rose by £23,000 – putting the area sixth among the South West’s 26 local authorities with price data for annual growth.
The highest annual growth in the region was in Swindon, where property prices increased on average by 12.4%, to £280,000. At the other end of the scale, properties in Bath and North East Somerset gained 3% in value, giving an average price of £435,000.
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Hide AdFirst steps on the property ladder
First-time buyers in South Gloucestershire spent an average of £298,000 on their property – £19,000 more than a year ago, and £67,000 more than in April 2018.
By comparison, former owner-occupiers paid £398,000 on average in April – 33.6% more than first-time buyers.
Property types
Owners of terraced houses saw the biggest fall in property prices in South Gloucestershire in April – they dropped 0.5% in price, to £293,517 on average. But over the last year, prices rose by 6.3%.
Among other types of property:
- Detached: down 0.2% monthly; up 7.5% annually; £589,862 average
- Semi-detached: down 0.2% monthly; up 7.4% annually; £378,961 average
- Flats: up 0.2% monthly; up 6.6% annually; £197,410 average
How do property prices in South Gloucestershire compare?
Buyers paid 7.9% more than the average price in the South West (£327,000) in April for a property in South Gloucestershire. Across the South West, property prices are higher than those across the UK, where the average cost £286,000.
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Hide AdThe most expensive properties in the South West were in Cotswold – £489,000 on average, and 1.4 times the price as in South Gloucestershire. Cotswold properties cost 2.2 times the price as homes in Plymouth (£221,000 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 April
- South Gloucestershire: £353,039
- The South West:£327,144
- UK: £286,489
Annual growth to April
- South Gloucestershire: +7%
- The South West: +4%
- UK: +3.5%
Highest and lowest annual growth in the South West
- Swindon: +12.4%
- Bath and North East Somerset: +3%