HOUSE PRICES increased by 1.5 per cent, more than the average for the south west, 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 10.7 per cent annual growth.

The average Bournemouth, Christchurch and Poole house price in March was £328,953, Land Registry figures show, a 1.5 per cent increase on February.

Over the month, the picture was better than that across the south west, where prices increased 0.1 per cent and Bournemouth, Christchurch and Poole outperformed the 0.3 per cent rise for the UK as a whole.

Over the last year, the average sale price of property in Bournemouth, Christchurch and Poole rose by £32,000, putting the area 22nd among the south west’s 29 local authorities with price data for annual growth.

The best annual growth in the region was in Torridge, where property prices increased on average by 20.8 per cent, to £305,000. At the other end of the scale, properties in West Devon gained just 5.7 per cent in value, giving an average price of £293,000.

Owners of semi-detached houses saw the biggest improvement in property prices in Bournemouth, Christchurch and Poole in March, they increased 2 per cent, to £352,876 on average. Over the last year, prices rose by 12.7 per cent.

Other types of property saw similar growth:

  • Detached: up 1.6 per cent monthly; up 13.6 per cent annually; £556,200 average
  • Terraced: up 1.6 per cent monthly; up 10.7 per cent annually; £285,897 average
  • Flats: up 1.3 per cent monthly; up 7.3 per cent annually; £209,178 average

First-time buyers in Bournemouth, Christchurch and Poole spent an average of £253,000 on their property, £23,000 more than a year ago, and £40,000 more than in March 2017.

By comparison, former owner-occupiers paid £376,000 on average in March, 48.5 per cent more than first-time buyers.

Buyers paid 4.8 per cent more than the average price in the south west (£314,000) in March for a property in Bournemouth, Christchurch and Poole.

Across the south west, property prices are higher than those across the UK, where the average cost £278,000.

The highest property prices across the UK were in Kensington and Chelsea.