BOURNEMOUTH’S booming property prices have seen the average cost of one square foot of property in the town and nearby areas climb to £348, according to the latest figures.

New data from Zoopla shows that the price of property per square foot in Bournemouth is 23 per cent higher than the UK national average, which currently stands at £282 per square foot.

The data examined property prices in Bournemouth and Poole and reveals that in Bournemouth, the average cost of property per sq ft is £340. However, in Poole, the price rises to £356 per sq ft.

While Poole’s prices are the highest across the local authority area, they still have some way to go before they match costs in London, where the figure rises to a whopping £562 per sq ft.

Outside of London, in Wales, one square foot of space costs £199, in Scotland the figure is £160 and in the North East, it is just £157. Burnley is the cheapest town in the UK for one square foot of property - coming in at just £123.

In Poole, every £5,000 spent on a property will purchase 14 sq ft of floor space while in Bournemouth, property hunters get marginally more for their money, with £5,000 buying them 15 sq ft of floor space. The figures in the Bournemouth area are lower than the UK national average, which stands at 18 sq ft per £5,000.

The data on sq ft prices comes hot on the heels of the latest Zoopla House Price Index, which revealed in July that the average price of a house in the Bournemouth area now stands at £307,400.

That’s a rise of 5.8 per cent compared to summer 2020 and a five-year cumulative rise of 17.9 per cent.

Julian Hewlett, sales director at Bournemouth estate agency Lovett International, said: “The property market in Bournemouth continues to go from strength to strength and over the last few months, we’ve seen demand really start to outstrip supply.

“The increased demand for property across Bournemouth and Poole is unquestionably driving up the cost per square foot of homes and there’s never been a better time for sellers to list their property and get set for their next big move.”

Gráinne Gilmore, head of research, Zoopla, said:“Nationally, we’re also seeing that the type of property has an impact on the cost of space. The pandemic has caused a spike in many residents across the UK searching for more space, which means house values are climbing faster than flats. As a result, houses are commanding higher values per square foot. Bournemouth residents thinking about selling a family house will really be in pole position.”