South Gloucestershire house prices down by 1.0%
House prices in South Gloucestershire decreased by 1.0% in September, despite witnessing a 0.2% rise over the last 12 months.
Joseph Hook, data reporter
The latest data from the Office of National Statistics shows that the average property in the area sold for £273,836 – significantly higher than the UK average of £232,554.
Across the South West, property prices have risen by 4.3% in the last year, to £260,142. The region outperformed the UK as a whole, which saw the average property value increase by 3.5%.
The data comes from the House Price Index, which the ONS compiles using house sale information from the Land Registry, and the equivalent bodies in Scotland and Northern Ireland.
The average homeowner in South Gloucestershire will have seen their property jump in value by around £80,000 in the last five years.
The figures also showed that buyers who made their first step onto the property ladder in South Gloucestershire in September spent an average of £233,471 – around £68,000 more than it would have cost them five years ago.
Between August last year and July this year, the most recent 12 months for which sales volume data is available, 4,521 homes were sold in South Gloucestershire, 7% fewer than in the previous year.