What’s happening to Ringwood property prices?
A charming market town, Ringwood is a popular place to live with the New Forest right on its doorstep. But there is more to this market town than its appealing location. A bustling shopping centre, weekly market, good selection of schools and easy access to major roads, makes it an appealing choice for many buyers. As does the surrounding area, which enjoys beautiful countryside and proximity to this thriving town.
Desirability drives property prices, and New Forest properties continue to be the most expensive National Park prices in the UK. House prices in the New Forest increased by 26% between 2006 and 2016, according to research by Lloyds Bank. As a result, towns and villages in its proximity are feeling the benefit.
During the last year Ringwood sold prices were up 3% on the previous year, with the average house selling for £360,391. Notably, this is a 10% increase on 2014 sold prices, which averaged at £327,351. The wider BH24 property market is behaving similarly, reflecting what is happening in Ringwood, with a 2.87% increase in the past 12 months and an average property price of £426,402.
This year will see some changes in and around Ringwood, which will undoubtedly have a positive impact on the housing market in the longer term. The major improvement scheme to widen the A31, will also see improvements to the transportation links in and around Ringwood. Plus, Highways England have indicated that there may be scope to include some small-town centre projects, within the scheme’s overall budget, to improve pedestrian access to the town.
At a time when London and the South East are reporting falling prices, we’re pleased to report that homeowners in Ringwood and the South West in general are continuing to enjoy a buoyant market and positive annual increases on their property values.