House prices slightly increased in Swindon during the month of June, new figures show.

Over the last year, property prices in the town have risen by 0.5 per cent and Land Registry figures show the average house price in June was £261,443 – up by 0.3 per cent in May.

But over the last month, house prices in the South West decreased by 1 per cent and Swindon was lower than the 0.5 per cent rise for the UK as a whole.

The average sale price of properties in Swindon has risen by £1,200 over the last year, which puts the town among the South West’s 26 local authorities with price data for annual growth.

Areas in the South West that have seen dramatic changes are East Devon, where prices increased by an average of 7.4 per cent to £365,000, and Torridge, in which properties lost 5 per cent of their value, giving them an average price of £286,000.

On average, first-time buyers in Swindon spent £41,600 more on their property in June 2024 than in June 2019 and £1,100 more than a year ago, with many spending around £225,200 on their first home.

By comparison, former owner-occupiers paid £299,800 on average in June – 33.1 per cent more than first-time buyers.

Owners of terraced houses saw the biggest rise in prices in June as they increased by 0.5 per cent to £230,074 on average.

Detached properties were up by 0.3 per cent monthly and 0.9 per cent annually, averaging around £449,827, compared with semi-detached being 1.7 per cent more expensive annually and costing around £290,675 on average.

Flat prices have decreased by 1.2 per cent annually, leaving buyers paying an average of just under £160,000. 

The average property price in the South West for June was £317,000, but buyers in Swindon paid 17.6 per cent less, around £261,000, despite the average property price in the UK being £288,000.

The Cotswolds had the most expensive properties in the South West, around £470,000 on average and 1.8 times the price as in Swindon, and Plymouth had the cheapest at £227,000 on average – 2.1 times less than the Cotswolds.

Meanwhile, the average annual growth to June 2024 was 0.5 per cent in Swindon, compared with two per cent for the South West and 2.7 per cent for the UK, meaning house prices are still cheaper than the rest of the region and many other parts of the country.