Are you thinking of buying a house in Hampshire? If so, you’re probably wondering whether now is a good time to do so, especially following an unpredictable year in the UK property market.
Well, the good news is that we have examined the housing market trend graphs and crunched the data to bring you the answers.
Should you buy in Hampshire in 2024?
The great news for anyone looking at purchasing a Hampshire home is that 2024 is shaping up to be a good year to buy. House prices in the county have increased by an average of 42% over the last decade, but this price growth has slowed considerably, and in many areas Hampshire house prices have fallen over the past 12 months.
In fact, almost every type of property has seen a fall in prices since August 2022, with semi-detached houses being the exception. However, they have only risen in price by 1%.
What’s more, the number of properties on the market in Hampshire grew by 44% in the year to November 2023, meaning there is great choice available for buyers. The number of transactions in Hampshire has declined by around 60% since August 2022, with all types of homes taking longer to sell than a year ago. This data indicates that the Hampshire housing market is currently favourable to buyers, rather than sellers.
How much does property cost in Hampshire?
The average Hampshire home costs £396,730, although prices vary by region and property type. There’s no denying that Hampshire is an expensive area of the UK in which to purchase a property, a reflection of its excellent amenities and transport links. But it is more affordable than other comparably desirable counties nearby, such as Berkshire, Surrey and West Sussex, meaning it’s a great option for buyers in the south-east.
Average house prices in Winchester
Winchester is the county town of Hampshire, and a highly desirable place to live. As a result, house prices are among the highest in the area, with an average of £627,888 over the past year. Detached houses are the most costly, selling at an average of £998,396, while flats are much more affordable, selling for £327,106 on average over the past 12 months.
Average house prices in Andover
Buyers looking for a more affordable option in Hampshire, but with great amenities and transport, should consider Andover. Houses for sale in Andover are much cheaper than in Winchester, with an average sale price of £330,182 over the past year.
Average house prices in Basingstoke
Basingstoke is a large town in the north-west of Hampshire, with great links to London. Properties here are slightly more expensive than in Andover, selling at an average of £356,558 over the past 12 months, though significantly more affordable than Winchester.
Average house prices in Whitchurch
Those hoping to buy in a more rural spot, but without sacrificing great transport links should look at Whitchurch, an affluent small town in the north of Hampshire. Properties here cost an average of £424,356 over the past year.