The price of living in Swindon is on the up as latest figures show that Swindon house prices have increased far more than the South West average.
In March 2024, houses in Swindon saw a price increase of 0.5 per cent, which may not sound like much but is significantly more than the South West average of 0.2 per cent.
This marks a complete turnaround from the average down-hill trend that Swindon house prices had been seeing, with a 1.6 per cent annual decline.
Over the last year, the average sale price of property in Swindon fell by £4,400 – putting the area 17th among the South West’s 26 local authorities with price data for annual growth.
But the dramatic u-turn has now seen house prices in Swindon go up by an average of over £1,000 in December 2023 alone, according to figures from the Land Registry, and prices have continued growing on an upward trend well into 2024.
With prices now rising much faster than most towns in the South West, estate agents are wondering whether this could mean good news for property owners – and bad news for house hunters.
Here’s the breakdown of how the Swindon housing market is looking.
Although it's still one of the cheaper areas of the South West, house prices in Swindon are rising fast. (Image: Getty)
Property types
In March 2024, owners of flats saw the biggest rise in property prices in Swindon, with an increase of one per cent.
This took the price of a flat in the town to an average of £163,299.
Despite the general decrease of prices in recent years, March also saw a 0.8 per cent monthly rise in detached properties, a 0.6 per cent increase in semi-detached and a 0.1 per cent increase in terraced properties.
This means that the average prices sat at £461,539 for a detached house, £294,082 for a semi-detached, and £231,646 for a terraced.
First-time buyers in Swindon spent an average of £228.400 on their property in March 2024, which was £42,700 more than in March 2019.
How do property prices in Swindon compare?
Although house prices in Swindon may be rising much faster than the South West average rise, Swindon houses are still some of the cheapest in the area.
In March 2024, buyers paid 16.1 per cent less than the average price in the South West for a property in Swindon.
This may be because across the South West, property prices are higher than those across the UK, where the average cost is £283,000.
The most expensive properties in the South West were unsurprisingly in the Cotswold area, coming in at £496,000 on average, and 1.9 times the price of the average house in Swindon.
Across the UK, the highest property prices were in Kensington and Chelsea.
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