Swindon house prices held steady in July

House prices remained steady in Swindon in July, new figures show.

The lack of movement maintains 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 July was £266,211, Land Registry figures show – largely unchanged from June.

Over the month, the picture was similar to that across the South West, where prices decreased 0.2%, but Swindon was lower than the 0.5% rise 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 11th among the South West’s 26 local authorities with price data for annual growth.

The highest annual growth in the region was in the Forest of Dean, where property prices increased on average by 5.9%, to £321,000. At the other end of the scale, properties in West Devon lost 3.1% of their value, giving an average price of £312,000.

 

First steps on the property ladder

First-time buyers in Swindon spent an average of £227,000 on their property – £1,900 more than a year ago, and £40,000 more than in July 2018.

By comparison, former owner-occupiers paid £308,800 on average in July – 36.1% more than first-time buyers.

 

 

 

Property types

 

 

Owners of flats saw the biggest fall in property prices in Swindon in July – they dropped 0.3% in price, to £156,948 on average. But over the last year, prices rose by 1.4%.

Among other types of property:

• Detached: down 0% monthly; up 2.5% annually; £475,332 average
• Semi-detached: down 0% monthly; up 1.1% annually; £295,516 average
• Terraced: up 0.1% monthly; down 0.1% annually; £230,794 average

 

 

How do property prices in Swindon compare?

 

Buyers paid 17.8% less than the average price in the South West (£324,000) in July for a property in Swindon. 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 – £482,000 on average, and 1.8 times the price as in Swindon. Cotswold properties cost 2.2 times the price as homes in Plymouth (£223,000 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 July

• Swindon: £266,211
• The South West: £323,713
• UK: £289,824

Annual change to July

• Swindon: +1.1%
• The South West: -1%
• UK: +0.6%

Highest and lowest annual growth in the South West

• The Forest of Dean: +5.9%
• West Devon: -3.1%