House Prices in BH24 rose by 5% in the last 12 months
During 2016 house prices in BH24 have mostly reflected the national picture, with a buoyant market and increasing house prices as demand continues to outstrip supply. At the end of 2016 the number of properties on the market dipped to its lowest level since December 2015, and we entered the new year with fewer properties available for buyers starting their property hunt in early 2017.
House Prices in BH24 postcode were up 5% as a whole at the end of last year, and experts are predicting that prices will continue to increase during 2017. Being on the doorstep of a national park certainly helps keep house prices rising, but you might be wondering what the impact is on the St Ives, St Leonards and Ashley Heath localities?
What’s happening to house prices in St Ives?
St Ives enjoyed a remarkable 2016, with property prices up 8% on the previous year, and 8% up on 2014. The average price of a St Ives home was £409,407, making it more expensive than Ringwood and West Moors. With 26 properties sold in the last year, St Ives has been a busy market place, boding well for those looking to sell this year.
What’s happening to house prices in St Leonards?
St Leonards experienced a resilient property market during 2016 with 34 properties sold. Prices have remained on a par with the highs of 2014, with the overall average price around £432,000, up slightly on that year’s £424,000 overall average. Categorically St. Leonards remains the more expensive location to purchase over the less expensive areas of Ringwood, Ferndown and West Moors.
What’s happening to house prices in Ashley Heath?
The Ashley Heath property market has been positively booming for the past 2 years. During 2016, the overall average price increased to £551,209, up a staggering 19% on 2015 and an impressive increase of 16% on 2014 average prices. Ashley Heath is currently more expensive than Ringwood and Fordingbridge, as one of the increasingly in-demand areas to live on the edge of the New Forest and 57 properties sold in the past year.
If you are looking to sell this year there is good news, as the national market seems to be maintaining its momentum. According to data from Halifax, property prices across the UK jumped between November and December 2016 by their largest figures since March 2016, despite continuing uncertainty over the direction of the UK economy.
Martin Ellis, Halifax housing economist, says “UK house prices should…continue to be supported by an ongoing shortage of property for sale, low levels of housebuilding, and exceptionally low interest rates.”
Whilst we are not anticipating record increases in house prices this year, they are expected to continue their upward trend. For those that live on the edge of the New Forest National Park we can be fairly certain that demand will continue to exceed supply, as we benefit from living in one of the most desirable areas of the country.