Eastleigh house prices see biggest drop in 2018

Eastleigh House prices see biggest drop

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Eastleigh house prices have seen some of the biggest drops in value during 2018 according to property website Zoopla it has been revealed. Although Chandler’s Ford was named last year as one of the top 10 places in the UK to live, the latest data compiled by Zoopla shows that property values in the borough have slipped by over 5% during 2018 wiping almost £20,000 from the average house price.

While the average value of property in the UK increased has by 1% over the past 12 months the study finds that in Eastleigh, prices have dropped by 5.55% making the average house value £337,784 and putting Eastleigh in the bottom five towns for house price growth in 2018 along with Hebbern in Tyne and Wear, Alnwick in Northumberland, Nantwich in Cheshire and Biggleswade, Bedfordshire.

In contrast Zoopla reports that Ryde on the Isle of Wight saw the largest gain of 10.26%  making it the only town in the UK to see double digit house price growth.

In a recent press release the Royal Institute of Chartered Surveyors (RICS) said that the housing market had struggled with a “number of issues” in 2018 including “Brexit uncertainty” and noted that sales activity has declined over the last two years.

RICS predicts there will be a continued slowdown in sales in 2019 resulting in 0% growth in house prices.

Top five towns for house price growth

(Average % increase since January 2018)

1 Ryde, Isle Of Wight: £242,016 (10.24%)

2 Smethwick, West Midlands: £163,627 (9.67%)

3 Diss, Norfolk: £311,486 (7.89%)

4 Broadstairs, Kent: £333,212 (7.63%)

5 Pontypool, Torfaen: £162,319 (7.52%)

 

Bottom five towns for house price growth

(average % decrease in value since January 2018)

1 Alnwick, Northumberland: £238,802 (-6.58%)

2 Biggleswade, Bedfordshire: £329,206 (-6.49%)

3 Nantwich, Cheshire: £276,647 (-5.60%)

4 Eastleigh, Hampshire: £337,784 (-5.19%)

5 Hebburn, Tyne and Wear: £135,835 (-4.88%)

Source: Zoopla 2018