Swindon house prices increased in September

House prices increased by 1.4% in Swindon in September, new figures show.

The rise contributes to the longer-term trend, which has seen property prices in the area grow by 1.1% over the last year.

The average Swindon house price in September was £272,062, Land Registry figures show – a 1.4% increase on August.

Over the month, the picture was different to that across the South West, where prices decreased 0.1%, and Swindon was above the 0.5% drop for the UK as a whole.

Over the last year, the average sale price of property in Swindon rose by £2,900 – putting the area fourth 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.

 

First steps on the property ladder

First-time buyers in Swindon spent an average of £231,900 on their property – £1,900 more than a year ago, and £42,900 more than in September 2018.

By comparison, former owner-occupiers paid £315,800 on average in September – 36.2% more than first-time buyers.

 

 

 

Property types

 

 

Owners of detached houses saw the biggest rise in property prices in Swindon in September – they increased 1.7%, to £487,877 on average. Over the last year, prices rose by 3%.

 

Among other types of property:

• Semi-detached: up 1.4% monthly; up 1% annually; £301,952 average
• Terraced: up 1.2% monthly; down 0.4% annually; £235,743 average
• Flats: up 1.3% monthly; up 1.8% annually; £159,925 average

 

 

How do property prices in Swindon compare?

 

Buyers paid 17.2% less than the average price in the South West (£329,000) in September for a property in Swindon. Across the South West, property prices are higher than those across the UK, where the average cost is £291,000.

The most expensive properties in the South West were in Cotswold – £503,000 on average, and 1.8 times the price as in Swindon. 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

• Swindon: £272,062
• The South West: £328,668
• UK: £291,385

Annual change to September

• Swindon: +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%