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The latest results have just been issued from the Office of National Statistics for property price changes from June 2020 to June 2021.
For England the annual price change was 13.3%; up to £284,029.
Not surprisingly, the statistics confirm that most areas of the West Country have seen considerable increases in average property prices in that 12-month period, as follows:
City of Plymouth: 7.4% to £194,085
Cornwall: 17.7% to £275,677
Devon: 12.3% to £289,106
Dorset: 9.1% to £318,406
East Devon: 11.3% to £316,180
Exeter: 9.6% to £279,056
Mid Devon: 5.3% to £248,664
North Devon: 19.8% to £284,463
Sedgemoor: 13.5% to £256,986
Somerset: 11.1% to £261,514
Somerset West and Taunton: 9.8% to £256,125.
South Hams: 15.1% to £346,584
South Somerset: 9.9% to £254,520
Torbay: 10.0% to £222,470
Torridge: 11.1% to £257,275
West Devon: 20.1% to £293,532
Simon Cooper, Stags Senior Partner, comments:
“Remember, June 2020 was at the peak of the pandemic with full lockdown having just finished and with few property transactions, whilst June 2021 was the month at the end of the SDLT holiday with frenetic activity of house completions.
It is also worth noting that this is the average price of all houses sold and the percentage that they are higher compared to 12 months earlier. This is not the percentage by which individual properties have increased by in that period, a common mistake made by the press and many commentators.
We have also seen a larger number of more expensive houses selling in the last year which will certainly have affected the average prices quoted and therefore the annual percentage increase.
If you really want to know what your property is worth compared to 12 months previously, please contact one of our branches.”
Please contact one of our branches here.
