HOUSE prices in Bournemouth soared by more than 14 per cent last year, putting the town among the areas where home inflation rose the most.

The average price in the area reached £365,148, up £45,559, in the 12 months to November 2022, according to analysis by Halifax.

That put the town in 12th place in a league table headed by York, where prices rose 23.1 per cent to an average of £370,639.

Kim Kinnaird, mortgages director at Halifax, said: “Overall, 2022 was another year of rapid house price growth for most areas in the UK.

“And unlike many years in the past, the list isn’t dominated by towns and cities in the south east.”

She said soaring prices made it “much more challenging” for those looking to get onto the property ladder.

The house price rises came despite the mortgage rate rises which came in the wake of soaring inflation and the September mini-budget.

Miles Tarpey, director of Christchurch-based Slades Estate Agents, said: “We saw house prices continue to rise in the early to middle part of 2022. This increase slowed however as the year went on. In our view, this was in line with the increasing cost of living.

“This seems to have come to a point where prices have now levelled off. However, we are pleased to say that there is still plenty activity and that those properties coming to the market sensibly priced are attracting plenty of interest.

“We hope that inflation has peaked and will start to fall back shortly and remain cautiously optimistic for the year ahead.”

Southbourne businessman Gordon Fong, who has noted a rise in people moving to Bournemouth from London because of remote working, said: “The recent increases over the pandemic are the same as the early 2000s in percentage terms.

"However, when you look at the cost of a home versus salaries, plus inflation and the cost of living, it is staggering because average house prices have more than quadrupled since 1998 but average salaries definitely have not.

“I appreciate it’s only anecdotal, but I have seen a lot of new movers to the Southbourne area buying up houses whilst keeping their London jobs and salaries.

“Long term trends always show an increase in house prices and I feel it’s slightly unfair to totally blame DFLs (Down From London), although they may have had the pick of the houses, being able to decide and transact quicker.

Across the south west region, average property prices rose 12 per cent to £364,759, Halifax reported.