Basingstoke, located in south East England, has a population of around 107,000 people and is located 30 miles from Southampton and less than 50 miles from London. It is a handy commuting area but it is also an area that has its own merits. There is a good level of interest in properties in Basingstoke and if you are wondering what has happened to house prices in Basingstoke, this guide will provide you with information.
In Basingstoke, the current average price paid for a property is £216,787 with the average value of property being £251,053. This figure comes from the Zoopla-Zed index and with respect to the value change over the past 12 months, there has been a 6.97% increase in the value of property in the Basingstoke area. This equates to an increase of £16,363 in the past twelve months.
For flats in Basingstoke, the current average price paid is £165,711 and this compares to a current average value of £198,791. There has been an increase of 3.36% with respect to flat prices in Basingstoke over the past 12 months and this equates to an increase of £6,465 in the past year.
Detached properties are the most expensive in Basingstoke
With respect to detached properties in Basingstoke, the current average price paid is £363,379 and the current average value is said to stand at £445,907. With respect to the value change in the past 12 months, there has been a 7.54% rise which equates to a value change of £31,280.
For semi-detached properties in Basingstoke, the current average price paid is £270,731 and the current average value is said to stand at £295,608. With respect to the value change in the past 12 months, there has been a 9.11% rise which equates to a value change of £24,676.
Finally, with respect to terraced properties in Basingstoke, the current average price paid stands at £216,961 and the current average value for terraced properties stands at £229,701. With respect to value change in the past 12 months, the value has changed by £16,609 and this represents an increase of 7.79% in the past year.
Flats lead the way for properties sold in Basingstoke
With respect to properties sold, flats lead the way, then terraced properties, then semi-detached properties and then detached properties. With the number of flats being sold in Basingstoke in the past year equating to around 5 to 6 times the number of detached properties sold, it is clear that the markets provide more flats. While the buyers of the different types of property are probably only looking for the type of property they buy (and maybe one other type), there is no doubt that there is a greater level of supply and demand for flats.
Flats can be transient with people moving on in their career or growing their family and deciding to move on. When it comes to moving into a detached property, it is far more likely that you will settle down in that home and spend out the rest of your years, passing it on to family members.
If you are thinking of selling your property in Basingstoke or maybe looking to move into the area then please drop in and speak to a member of our experienced team on Winchester Street or call 01256 807 111.
