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Figures show house prices fall in Swindon

Figures show house prices fall in Swindon

House prices dropped slightly in Swindon in June, new figures reveal.

But the drop does not reverse the longer-term trend, which has seen property prices in the area achieve 1.8 per cent annual growth.

The average Swindon house price in June was £217,049, Land Registry figures show – a 0.2 per cent decrease on May.

Over the month, the picture was worse than that across the South West, where prices increased 2.9 per cent, and Swindon underperformed compared to the 0.7 per cent rise for the UK as a whole.

Over the last year, the average sale price of property in Swindon rose by £3,900 – putting the area 20th among the South West’s 29 local authorities for annual growth.

The best annual growth in the region was in Bath and North East Somerset, where properties increased on average by 7.5 per cent, to £355,000.

Winners and Losers

Owners of flats fared worst in Swindon in June – they dropped 0.7% in price, to £135,193 on average​. Over the last year, prices dropped by 1.7%.

Among other types of property:

Detached: down 0.3% monthly; up 2.9% annually; £377,470 average

Semi-detached: remained level over the month; up 2.8% annually; £239,928 average

Terraced: down 0.1% monthly; up 1.9% annually; £188,852 average

First steps on the property ladder

First-time buyers in Swindon spent an average of £​186,400 on their property – ​£2,800 more than a year ago, ​and ​£34,500 more than in Jun-15.

By comparison, former owner-occupiers paid £​249,800 on average in June​ – 34.0% more than first-time buyers.

How do property prices in Swindon compare?

Buyers paid 17.6% less than the average price in the South West (£263,000) in June for a property in Swindon. Across the South West, property prices are lower than those across the UK, where the average cost £238,000.

The most expensive properties in the South West were in the Cotswolds – £392,000 on average, and 1.8 times as much as in Swindon. The Cotswolds properties cost 2.2 times as much as homes in Plymouth (£181,000 average), at the other end of the scale.

The highest property prices across the UK were in Kensington and Chelsea, where the average June sale price of £1.4 million could buy 15 properties in Burnley (average £92,000).

Factfile

Average property price in June

Swindon: £217,049

The South West: £263,474

UK: £237,834

Annual growth to June

Swindon: +1.8%

The South West: +4.3%

UK: +3.4%

Best and worst annual growth in the South West

Bath and North East Somerset: +7.5%

West Devon: -1.2%

Full article is published here   by the Swindons Evening Advertiser on 21st September 2020