House prices in Swindon increased more than in other parts of the South West on average in July, according to new figures.
The average house price in Swindon was £271,014 in July and Land Registry figures show a 2.2 per cent increase in June, more than the average for the South West.
In July, prices increased 0.5 per cent in the South West and Swindon was above the 0.6 per cent rise for the UK as a whole, while the annual growth to July was up by 3.8 per cent.
Over the last year, the average sale price of properties in Swindon increased by £10,000 – 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 South Gloucestershire, where property prices increased on average by 5.8%, to £354,000. At the other end of the scale, properties in Torridge lost 5.1% of their value, giving an average price of £288,000.
First-time buyers in Swindon spent an average of £233,700 on their property, which is £9,000 more than a year ago and £50,600 more than in July 2019.
Whereas former owner-occupiers spent 32.7 per cent more than first-time buyers, paying an average of £310,200 in July.
But it was owners of semi-detached houses who saw the biggest rise in property prices for the month, as they increased by 2.4 per cent, to £302,110 on average and over the last year prices have risen by 5.1 per cent.
Meanwhile, detached and terraced houses are both up by 2.2 per cent monthly and flat prices are up by 2 per cent.
Buyers paid 15.4 per cent less than the average price in the South West at £320,000 in July for a property in Swindon.
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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 – £478,000 on average, and 1.8 times the price as in Swindon. Cotswold properties cost 2.1 times the price as homes in Plymouth (£224,000 average), at the other end of the scale.
Provisional figures from the Office for National Statistics also show rental prices have increased in the last year, with the average private rent in Swindon reaching £982 per month in the year to August – up 10% from £894 a year prior.
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