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Prices for HOUSES in Bournemouth, Christchurch and Poole fell below the regional average in May, according to the latest figures.
Real estate prices in the metropolitan area fell 1.2% – more than the Southwest average – in May. But the decline does not reverse the long-term trend, which has seen house prices in the region reach an annual growth of 7.7%.
The average house price in Bournemouth, Christchurch and Poole in May was £ 299,301, according to cadastral figures, down 1.2% from April.
During the month, the situation was worse than that of the South West, where prices fell 0.6%, and Bournemouth, Christchurch and Poole underperformed on the increase of 0.9% for the United Kingdom as a whole.
Over the past year, the average selling price of a property in Bournemouth, Christchurch and Poole has increased by £ 21,000, placing the region 22nd out of 32 South West local authorities in annual growth.
The region’s best annual growth was recorded in West Devon, where house prices rose on average 25.1% to £ 306,000. At the other end of the scale, Stroud’s properties have lost 4.2% of their value, an average price of £ 278,000.
Single-family homeowners had the worst results in Bournemouth, Christchurch and Poole in May – they fell 1.5% in prices, to £ 493,264 on average. But over the past year, prices have risen 8.5 percent.
First-time buyers in Bournemouth, Christchurch and Poole spent an average of £ 232,000 on their property – £ 16,000 more than a year ago and £ 27,000 more than in May 2016.
By comparison, former homeowners paid on average £ 339,000 in May, 46.3% more than first-time buyers.
Sean Gibson (pictured), residential sales manager at Savills in Canford Cliffs, said: “While demand remains strong, it’s important to reiterate that realistic compensation pricing is important to secure a sale, which is perhaps a factor behind the report falling house prices in the BCP in May.
“The market remains price sensitive and this is perhaps even more important to keep in mind with the first stamp duty deadline behind us, especially if, as we expect, stock constraints start to squeeze. ‘tone down over the next few months. ”
