HOUSE prices increased by 1.3 per cent in Bournemouth, Christchurch and Poole in March, new figures show.

The boost contributes to the longer-term trend, which has seen property prices in the area achieve 9.2 per cent annual growth.

House prices averaged £307,001 in BCP in March 2021, Land Registry figures show – a 1.3 per cent increase on February.

The conurbation saw a smaller increase compared to both the south west (2.6 per cent) and the UK as a whole (1.8 per cent).

The Dorset Council area saw an increase last month, but by just 0.4 per cent, with the average house price reportedly at £315.051. The 12-month property price increase is similar to BCP.

Over the past year, the average sale price of property in BCP rose by £26,000 – putting the area 19th among the south west’s 32 local authorities for annual growth. Dorset ranked 18th.

The best annual growth in the region was in the Forest of Dean, where property prices increased on average by 16.8 per cent, to £277,000. At the other end of the scale, properties in South Gloucestershire gained 4 per cent in value, giving an average price of £291,000.

Winners and Losers

Owners of terraced houses saw the biggest improvement in property prices in BCP in March – they increased 1.6 per cent, to £266,867 on average. Over the past year, prices rose by 10.5 per cent.

Among other types of property:

Detached: up 1.3 per cent monthly; up 11.1 per cent annually; £509,474 average

Semi-detached: up 1.2 per cent monthly; up 9.7 per cent annually; £323,265 average

Flats: up 1.2 per cent monthly; up 6.9 per cent annually; £200,283 average

First steps on the property ladder

First-time buyers in BCP spent an average of £237,000 on their property – £18,000 more than a year ago, and £39,000 more than in March 2016. In Dorset they spent £246,000 on average, £19,000 more than a year ago, and £40,000 more than in March 2016.

By comparison, former owner-occupiers in BCP paid £349,000 on average in March – 47 per cent more than first-time buyers. For Dorset they paid £353,000 on average in March – 43.2 per cent more than first-time buyers.

How do property prices in BCP and Dorset compare?

Buyers paid 6.7 per cent more than the average price in the south west (£288,000) in March for a property in the conurbation and 9.5 per cent more in the Dorset Council area. Across the south west, property prices are higher than those across the UK, where the average cost £256,000.

The most expensive properties in the south west were in the Cotswolds – £428,000 on average, which is 1.4 times as much as in BCP and Dorset.

The highest property prices across the UK were in Kensington and Chelsea, where the average March sale price of £1.3 million could buy 14 properties in Burnley (average £94,000).

Factfile

Average property price in March

BCP: £307,001

Dorset: £315,051

The south west: £287,650

UK: £256,405

Annual growth to March

BCP: +9.2 per cent

Dorset: +9.2%

The South West: +10.9 per cent

UK: +10.2 per cent

Best and worst annual growth in the south west

The Forest of Dean: +16.8 per cent

South Gloucestershire: +4.0 per cent