House prices increased by 2.5% – more than the average for the South West – in Bath and North East Somerset in April, new figures show.

The rise contributes to the longer-term trend, which has seen property prices in the area grow by 3% over the last year – though still the lowest in the South West.

The average Bath and North East Somerset house price in April was £434,561, Land Registry figures show – a 2.5% increase on March.

Over the month, the picture was different to that across the South West, where prices increased 0.2%, and Bath and North East Somerset was above the 0.5% rise for the UK as a whole.

Over the last year, the average sale price of property in Bath and North East Somerset rose by £12,000 – putting the area bottom among the South West’s 26 local authorities with price data for annual growth.

The highest annual growth in the region was in Swindon, where property prices increased on average by 12.4%, to £280,000.

First steps on the property ladder

First-time buyers in Bath and North East Somerset spent an average of £373,500 on their property – £9,800 more than a year ago, and £75,500 more than in April 2018.

By comparison, former owner-occupiers paid £476,300 on average in April – 27.5% more than first-time buyers.

Property types

Owners of flats saw the biggest rise in property prices in Bath and North East Somerset in April – they increased 2.9%, to £291,299 on average. Over the last year, prices rose by 2.6%.

Among other types of property:

  • Detached: up 2.6% monthly; up 3.4% annually; £752,244 average
  • Semi-detached: up 2.4% monthly; up 3.1% annually; £456,751 average
  • Terraced: up 2.2% monthly; up 2.5% annually; £381,854 average

How do property prices in Bath and North East Somerset compare?

Buyers paid 32.8% more than the average price in the South West (£327,000) in April for a property in Bath and North East Somerset. Across the South West, property prices are higher than those across the UK, where the average cost is £286,000.

The most expensive properties in the South West were in Cotswold – £489,000 on average, and 1.1 times the price as in Bath and North East Somerset. Cotswold properties cost 2.2 times the price as homes in Plymouth (£221,000 average), at the other end of the scale.

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

Factfile

Average property price in April

  • Bath and North East Somerset: £434,561
  • The South West:£327,144
  • UK: £286,489

Annual growth to April

  • Bath and North East Somerset: +3%
  • The South West: +4%
  • UK: +3.5%

Highest and lowest annual growth in the South West

  • Swindon: +12.4%
  • Bath and North East Somerset: +3%