Saturday, August 13, 2022

Property prices in Swindon rising faster than UK average

Property prices

According to Land Registry figures, the average house price in Swindon was £233,294 in April – up 2.6 per cent on March

House prices rose by 2.6 per cent in Swindon in April. This is in line with the price growth seen in the region which has seen property prices achieve 8.4 per cent annual growth.

According to Land Registry figures, the average house price in Swindon was £233,294 in April – up 2.6 per cent on March.

Over the month, the picture was better than that across the south west, where prices dropped 2.3 per cent, and Swindon outperformed the 1.9 per cent drop for the UK as a whole.

The average sale price of property in Swindon increased by £18,000 over the last year – putting the area 21st among the region’s 32 local authorities for annual growth.

The Forest of Dean saw the best annual growth in the region, where property prices rose on average by 17.9 per cent, to £272,000. At the other end of the scale, properties in Gloucester increased 4.3 per cent in value, giving an average price of £213,000.

Owners of semi-detached houses saw the biggest improvement in property prices in Swindon in April as they rose 2.7 per cent to £257,068 on average. Over the last year, prices increased by 8.6 per cent.

The price of detached homes rose 2.5 per cent monthly and 8.8 per cent annually, with an average price of £406,225.

The price of flats increased by 2.5 per cent monthly and 5.6 per cent annually for an average of £143,635.

First-time buyers in Swindon spent an average of £200,000 on their property – £15,000 more than a year ago, and £32,000 more than in April 2016.

By comparison, former owner-occupiers paid £269,000 on average in April – 34 per cent more than first-time buyers.

Buyers paid 16.7 per cent less than the average price in the south west (£280,000) in April for a property in Swindon.

Average property prices in the region are lower than those across the UK, at £251,000.

The most expensive properties in the south west were in the Cotswolds which cost £414,000 on average, and 1.8 times as much as in Swindon.

The cost of properties in the Cotswolds is 2.2 times than those in Plymouth (£189,000 average), at the other end of the scale.


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