Posted on Saturday, March 2, 2019

Property prices are not far from most homeowners minds. 

Whether they are investments or a big part of plans for retirement, any changes of a house's value are regularly monitored.

And of course people are always on the lookout for the area set to become very popular and thus see prices rocket.

But new analysis of Land Registry data shows an area of Bristol that has seen prices rise by 60 per cent.

BS1 1 which is home to Shirehampton and Avonmouth residents saw the avergae value of its homes go from £119,000 to £185,000 from 2017 to 2018 respectively.

That is based on eight sales in 2017 to 59 sales in 2018.

The next biggest rise was in postcodes starting BS1 6, a large area including Stapleton, Frenchay, Fishponds, Mangotsfield, Emersons Green and Pucklechurch.

There homes have risen in value by 33 per cent in a year from an average of £256,000 in 2017 to £340,000 in 2018.

Postcodes beginning BS9 1 in the Clifton Downs area of the city saw prices rise by 24% to £570,000.

The premier location is also the most expensive postcode in Bristol.

The figures are based on postcodes with at least five sales in 2017 and 2018.

Since they include all property sizes and types, they can only give a general indication of the local housing market.

Changes in price may be due to more demand pushing up prices or a changing type of property being sold in the area, particularly if new homes have been built.

The postcode with the lowest price rise was BS13 0, Bedminster Down and Bishopsworth, where the average price was £180,000 in 2018 - up two per cent in a year.

The area with the biggest drop in prices was BS1 4, Hengrove, Whitchurch and Stockwood, where the average price fell 25per cent from £332,500 in 2017 to £250,000 in 2018.

Across Bristol, 19 postcodes saw prices drop in 2017, while 38 saw prices rise.

The area with the biggest price rise in England and Wales in 2018 was CV23 1, in Houlton, near Rugby. Prices there jumped from £46,809 in 2017 to £310,000 in 2018.

The area, around Dollman Road, is the site of a new mini town, which will see the creation of 6,200 new homes, as well as facilities such as schools, parks and a health centre over 15 years.

The first residents moved in in December 2017, and 2018 saw 61 sales of new homes pushing the average price of the area up.

The most expensive postcode in England and Wales with five or more sales was W1J 8, near Green Park in Westminster, where 24 sales in 2018 had an price of £7.03 million.

The postcode with the lowest average price was TS3 6, in North Ormsby in Middlesbrough, at £32,000.

The area with the biggest price fall in England and Wales in 2018 was NW1 4, around Regents Park in Westminster, which saw average prices fall 83% from £3.5m in 2017 to £586,000 in 2018, as more flats and fewer houses were sold.

Sold prices are taken from the Land Registry’s price paid data. Areas with four or fewer sales in either 2017 or 2018 have been excluded.

The analysis takes the average to be the median.

There were 115 postcodes with a median price of £1m or more in 2018, down from 173 in 2017.

Read the full article from the Bristol Post here

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