HOUSES prices rose 1.3 percent in Bournemouth, Christchurch and Poole in March, new figures show.
This surge is contributing to the longer-term trend, which has seen house prices in the region achieve annual growth of 9.2%.
House prices were on average Â£ 307,001 in BCP in March 2021, according to land register figures – a 1.3% increase from February.
The agglomeration saw a smaller increase compared to the South West (2.6%) and the UK as a whole (1.8%).
The Dorset Council area saw an increase last month, but only 0.4 percent, with house prices averaging at Â£ 315.051. The 12-month real estate price increase is similar to that of BCP.
Over the past year, the average sale price of BCP properties has increased by Â£ 26,000, placing the area 19th among 32 local authorities in the South West for annual growth. Dorset placed 18th.
The region’s best annual growth was in the Forest of Dean, where house prices rose an average of 16.8 percent to Â£ 277,000. At the other end of the scale, properties in South Gloucestershire gained 4% in value, an average price of Â£ 291,000.
Winners and losers
Terraced house owners saw the biggest improvement in property prices in BCP in March – they rose 1.6%, to Â£ 266,867 on average. In the past year, prices have increased by 10.5%.
Among other types of goods:
Detached: up 1.3% per month; up 11.1% per year; Average Â£ 509,474
Semi-detached: up 1.2% per month; up 9.7% per year; Average Â£ 323,265
Apartments: up 1.2% per month; up 6.9% per year; Â£ 200,283 Average
First steps on the property ladder
BCP first-time buyers spent an average of Â£ 237,000 on their property – Â£ 18,000 more than a year ago and Â£ 39,000 more than in March 2016. In Dorset, they spent 246 Â£ 000 on average, Â£ 19,000 more than a year ago, and Â£ 40,000 more than in March 2016.
By comparison, former owner-occupants of BCP paid on average Â£ 349,000 in March, 47% more than first-time buyers. For Dorset, they paid Â£ 353,000 on average in March, 43.2% more than first-time buyers.
How do property prices compare in BCP and Dorset?
Buyers paid 6.7 percent more than the average price in the South West (Â£ 288,000) in March for a property in the built-up area and 9.5 percent more in the Dorset Council area. In the South West, house prices are higher than in the UK, where the average cost is Â£ 256,000.
The most expensive properties in the southwest were in the Cotswolds – on average Â£ 428,000, 1.4 times more than in BCP and Dorset.
The highest UK house prices were in Kensington and Chelsea, where the average sale price of Â£ 1.3million in March bought 14 properties in Burnley (Â£ 94,000 in average).
Average house price in March
BCP: Â£ 307,001
Dorset: Â£ 315.051
The South West: Â£ 287,650
UK: Â£ 256,405
Annual growth until March
BCP: + 9.2%
Dorset: + 9.2%
South-West: + 10.9%
United Kingdom: + 10.2%
Best and Worst Annual Growth in the Southwest
The Forest of Dean: + 16.8%
South Gloucestershire: + 4.0%