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The only way to try and understand how the housing market might sway in the future is to look at what came before and identify reliable trends. But how far back do you look? Many experts use the financial crash of 2008 as a starting point because this was the year that mortgage lending and the market had to reset itself.
Read on to uncover how house prices have changed in Bournemouth, Christchurch and Poole (BCP). Or speak with a Hearnes estate agent to learn about current property prices in your area.
The average price of a property in BCP in December 2008 was £196,000. Property in the area has experienced steady long-term appreciation. The average property selling price in Bournemouth by the start of 2020 was around £280,0000, indicating a 43% increase over 13 years.
2020 saw significant inflation in property prices as the pandemic hit and people prioritised properties with more indoor and outdoor space. By September 2022, Bournemouth property had shot up in value with the average home now selling for £356,000.
Detached properties have seen the greatest appreciation. Back in 2008, you would have had to pay around £340,000 for a detached property in Bournemouth, which now costs buyers close to £700,000 in 2022 on average.
The average property price in Dorset over the last 12 months was just under £350,000. Most properties sold in Dorset were detached homes, fetching close to £514,000 on average. Semi-detached homes averaged £340,000, whilst terraced houses and flats sold for an average of £272,000 and £185,000, respectively.
If you want to sell a property in the BCP region, don’t hesitate to ask Hearnes for an accurate property valuation. Our team can conduct in-person and remote property valuations by using local expertise and reliable market data. Get an accurate valuation today to help you decide whether you should list your property for sale.
You’re in the right place if you want to know what it’s like to live in Ringwood and what to expect when stopping by.
We take a look at school catchment areas in the BCP Council region to explain how it all works, and to uncover some common misconceptions about BCP school catchment areas.
We’re publishing regular content to keep you informed on trends and property sale insights within the local market. Read our latest posts to learn what’s happening to the property market right now in Bournemouth, Ferndown, Poole, Ringwood and Wimborne.
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