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Cheltenham house prices rise by 6.5% Image

17th October 2018
Cheltenham house prices rise by 6.5%

Figures released today for HM Registry's UK House Price Index have revealed that house prices in England rose by 3.2% in the year to August 2018, down from 3.4% in the year to July 2018. 

The East Midlands was the fastest growing region with an annual growth rate of 6.5% up from 4.7% in the previous year ,followed by the West Midlands region which increased by 5.1% over the year.  London was the slowest growing region, falling by 0.2% in the year to August 2018.  Annual growth in London house prices has been around zero for the last 6 months.

Semi-detached homes rise most in value

Across England, most types of property saw an increase in average price in August 2018 compared with the same month last year, but semi-detached houses have seen the greatest increase, rising by 4.7% in the year to August 2018 to £220,736. 

The average price of flats and maisonettes was unchanged (0.0%) in the year to August at £231,000.

Locally, Cheltenham is among one of the few Local Authorities in England to perform well and has seen a 6.5% increase in average property prices in the year to August 2018  - rising from £264,934 to £282,252. Gloucestershire prices overall saw an increase of 5% - from £266,713 to £253,962.

The largest rise across the whole of the UK was in neighbouring Forest of Dean which has seen a whopping 14.6% rise in property prices over the last 12 months. It's thought that this could, in part, be fuelled by the abolition of toll charges across the River Severn this winter, making the area more attractive and affordable for commuters to/from Bristol.

 

 

©Peter Ball & Co 

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