MAINSTREAM housing prices in Bournemouth, Christchurch and Poole have risen by more than 200% since 2001, according to research by Savills.
In the past two years alone, property values have jumped 19.2%, according to Land Registry data.
Figures show the average sale of second-hand homes in the 12 months to November 2001, within the BCP Council local authority, was £131,653.
In the 12 months to November 2021, the average was £397,167.
The 201.7% increase in second-hand sale price over the 20-year period is 3.4% higher than the change in the South West region (198.3%) over the same period .
Mudeford and Friars Cliff (248.7%), Penn Hill (198%), St Catherine’s and Hurn (185.9%) Broadstone (159%) and Canford Cliffs – where the average used sale price of £926,884 represents an increase of 169.6%.
In the 12 months to November 2011, average secondhand retail prices in the conurbation increased by 89.3% from 2001 to £249,284.
Over the past 10 years, average prices have jumped 59.3%.
Sean Gibson, residential sales manager at Savills Canford Cliffs, whose team is celebrating 20 years since opening in the coastal suburbs this month, said: ‘Bournemouth, Christchurch and Poole have certainly attracted plenty of buyers due to the pandemic and the desire for more space and proximity to open public spaces. But what this latest research underscores is the enduring appeal of the area.
“The phenomenal level of demand over the past 18 months or so has been well documented. Whenever we thought the market might slow down a bit, we were wrong, with market conditions creating fierce competition between buyers and in many cases properties selling out in just days.
“There is a little uncertainty about how the market will react as we go through spring and the start of summer and it will be interesting to see how that plays out, but at the moment it remains extremely dynamic.
“There are a large number of highly motivated buyers who are ready, willing and able to move and we are seeing more activity at the start of the year than we would normally expect, creating ideal conditions for those looking to sell.”
Reflecting on the changes in the local property market over the past 20 years, Keith Fensom, who opened the Savills office in Canford Cliffs in 2002, said: “One thing that has remained constant over the past two decades is the appeal of the region for a wide variety of buyers.
“Being close to the coast has its obvious advantages, especially in the summer months, but Dorset is an area that remains as popular today as it ever was.
“The popularity of Bournemouth, Christchurch and Poole is that it offers a fantastic lifestyle which has an abundance of countryside and green space on the doorstep and a relatively quick commute for those working in London.
“The region’s growth over the past twenty years has been supported by a thriving property market which has been supported by significant interest from overseas and London buyers.”
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