Property prices booming again in Winchester
02-17-2014
Hampshire Chronicle: Property prices booming again in Winchester
HOUSE prices in Hampshire are booming as the property market begins to recover.
Ten wards across the county have seen the average price of homes hit £500,000 with some areas seeing properties edging £800,000.
Homeowners in Cheriton and Bishop’s Sutton, both near Alresford, have seen the average price of a home increase by 100 per cent in the last 10 years.
For many areas the jump in house prices is due to Londoners leaving the capital.
Called The Most Expensive Housing Markets of England and Wales, the report, compiled by estate agents Savills and analysts Property Database shows how the property market has boomed in the South East over the last decade.
It mainly highlights the changes in the London area but has shown how property prices in the commuter belt are beginning to rise.
George Burnand, partner of estate agents Strutt and Parker and head of their Winchester office, said he is aware of 700 buyers on their database who have an interest in buying locally.
He said they have a combined budget of £864 million which they are able to spend in this region.
“As I understand it, London has had it good for many years even through the financial crisis. There’s an expectation that the country market is about to benefit with people migrating out. We have got an awful lot of people looking to buy in Winchester and the surrounding area.
“In this neck of the woods we have exceptionally good state and private schools, we have beautiful countryside and we have train links that get you into London in an hour.
“When you start looking at where people are going to move to, Winchester is an obvious place.”
But other places in Hampshire are also benefitting from the housing boom.
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Parts of the New Forest and Test Valley have also seen house prices increase.
House prices in the Forest North West ward have risen 10 per cent in the last five years while in Boldre and Sway that have gone up by 25 per cent.
The ten wards which have seen house prices boom and where properties are in excess of £475,000 (as of September 2013) are:
Itchen Valley; Average house price: £798,715; percentage difference over five years 44%, difference over ten years, 75%.
Cheriton and Bishop’s Sutton; average house price: £700,153; percentage difference over five years minus 3%, difference over ten years, 100%.
Forest North West; average house price: £593,780; percentage difference over five years 10%, difference over ten years, 30%.
Owslebury and Curdridge; average house price: £589,279; percentage difference over five years 28%, difference over ten years, 61%.
Ampfield and Braishfield, Test Valley; average house price: £581,900; percentage difference over five years 23%, difference over ten years, 53%.
Upton Grey and the Candovers, Basingstoke and Deane; average house price: £580,972; percentage difference over five years 6%, difference over ten years, 26%.
St Michael, Winchester; average house price: £579,165; percentage difference over five years 21%, difference over ten years, 75%.
Bourne Valley, Test Valley; average house price: £573,000; percentage difference over five years 3%, difference over ten years, 60%.
Brockenhurst and Forest SE, New Forest; average house price: £545,742; percentage difference over five years minus 21%, difference over ten years, 38%.
Boldre and Sway, New Forest; average house price: £464,404; percentage difference over five years minus 3%, difference over ten years, 25%.