HOUSE prices rose by 1.4% in Winchester in June, new figures show, far outstripping the average in the South East.

This is part of a longer-term trend, which has seen property prices in the area grow by an enormous 8.2% over the last year.

The average Winchester house price in June was £506,617, Land Registry figures show – a 1.4% increase on May.

Over the month, the picture was similar to that across the South East, where prices increased 1%, and Winchester was above the 0.5% rise for the UK as a whole.

READ MORE: Winchester house prices sixth largest increase in the UK

Winchester High Street (Image: Contributed)

Over the last year, the average sale price of property in Winchester rose by £38,000 – putting the area third among the South East’s 64 local authorities with price data for annual growth.

The highest annual growth in the region was in Oxford, where property prices increased on average by 10.3%, to £470,000. At the other end of the scale, properties in Epsom and Ewell lost 7.7% of their value, giving an average price of £502,000.

First steps on the property ladder

First-time buyers in Winchester spent an average of £383,000 on their property – £30,000 more than a year ago, and £74,000 more than in June 2019.

By comparison, former owner-occupiers paid £579,000 on average in June – 51.2% more than first-time buyers.

Property types

Owners of terraced houses saw the biggest rise in property prices in Winchester in June – they increased 1.7%, to £431,189 on average. Over the last year, prices rose by 8.9%.

Among other types of property:

  • Detached: up 1.2% monthly; up 7.8% annually; £817,752 average
  • Semi-detached: up 1.6% monthly; up 9.7% annually; £508,835 average
  • Flats: up 1.4% monthly; up 6.2% annually; £262,369 average

So how do property prices in Winchester compare?

Buyers paid 32.4% more than the average price in the South East (£383,000) in June for a property in Winchester. Across the South East, property prices are high compared to those across the UK, where the average cost is £288,000.

The most expensive properties in the South East were in Elmbridge – £652,000 on average, and 1.3 times the price as in Winchester. Elmbridge properties cost 2.7 times the price as homes in Gosport (£243,000 average), at the other end of the scale.

Factfile

Average property price in June:

  • Winchester: £506,617
  • The South East: £382,522
  • UK: £287,924

Annual growth to June:

  • Winchester: +8.2%
  • The South East: +2%
  • UK: +2.7%

Highest and lowest annual growth in the South East:

  • Oxford: +10.3%
  • Epsom and Ewell: -7.7%