Bournemouth Beckons First Time Buyers

11/09/2018
House prices in Bournemouth are still on the rise, but the price increase of flats and maisonettes has been much smaller in comparison. These types of properties only saw an increase of 2.4% by April 2018* compared with April of this previous year. This means that Bournemouth is an ideal place for first time buyers, notwithstanding that it contains Sandbanks within it, with one street hosting 13 properties worth, as of October 2018, a cool £93 million!

Generally, first time buyers tend to look for smaller properties as their budgets are smaller. In Bournemouth the house price increase is becoming less each month and it is flats and maisonettes that are bringing down the average.

Sales Volumes

Sales volumes are decreasing in the UK, with a decrease of 10,000 sales in January 2018 compared with January of 2017. Bournemouth is no exception – in the last 6 months Bournemouth has seen a huge decrease in sales; August 2017 saw 383 sales whereas January 2018 saw just 230.

In 2014, house prices in Bournemouth were only increasing by around 6.6% on the previous year and 7.7% in 2015. However so far in 2018 (January to April), the town has only seen an increase of around 3.1%. Could these mean house prices in Bournemouth are beginning to level out?

Bournemouth-vs-Southampton.pngBournemouth vs. Southampton

Southampton’s percentage increases have begun to settle, but not has much as Bournemouth’s. For 2018, Southampton’s prices have only seen an increase of 4.9% whereas in 2016 the percentage increase on the previous year was 9.0%.

The graph shows how Bournemouth’s house prices could reach a 0% increase before Southampton Southampton. If the trend since 2015 continues, Bournemouth’s house prices could reach a steady rate (no increase) and maybe even a decrease in house prices on the previous year in 2021.

Bournemouth Property Prices 2018

Detached: £416,648
Semi-detached: £269,494
Terraced: £223,101
Flats/Maisonettes: £176,001
Average: £243,121
Cf. 2017 +3.73%
Land Registry 2018

Read on for more news regarding Bournemouth's property scene. Click here to find out more about buying a home in Bournemouth


* All house price data used in this article is from the Land Registry unless stated otherwise.

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Bournemouth Property Overview

The town has a large amount of Victorian architecture. St Peter’s Church is a proud-standing church in the town that was built over a 24-year period starting in 1855. Victorian properties are available on streets such as Harcourt Road and Park Road.

Bournemouth contain Sandbanks, an affluent area with the fourth highest land value in the World. Sandbanks also has the highest density of expensive properties outside London.

There are also many contemporary houses as a result of Bournemouth University being established in 1992.

Click to find out RICS Surveyor tips for Bournemouth and how to book a home buyers survey for properties in and around the location


Bournemouth-House-Price-IncreaseOff-Plan

Sandacres is a new development that will be built in Sandbanks. Dalmeny Road also has properties that can be invested in.

Help to Buy

There are new build properties on St John Way and Carter’s Quay in Bournemouth. These new builds are available for Help to Buy.


Shared Ownership

Shared ownership properties can be found on streets such as Horseshow Crescent and Commercial Road which are resale properties.

Rental Scene

Average rental prices in Sevenoaks in June 2018 were £1,288 per calendar month and the rental price range varies from £530 - £2,512 per calendar month.

Bournemouth Postcodes

Postcodes in Bournemouth range from BH1 to BH11.

Most Expensive Street in Bournemouth

The most expensive is, unsurprisingly, in Sandbanks. The street is Panorama Road with an average price of £1,711,811.

Up and coming local areas

Up and coming areas near Bournemouth include Broadstone, West Parley and Hurn.

Council Tax Band D Charge 2018

£1,718.20
 
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