House prices in Gosport fall – but prices rise in Fareham and Havant

The average Gosport house price in May was £250,656

House prices in Gosport dropped by more than the regional average in May, new figures show.

But the drop does not reverse the longer-term trend, which has seen property prices in the area grow by 2.6% over the last year.

The average Gosport house price in May was £250,656, Land Registry figures show – a 2.2% decrease on April.

Over the month, the picture was different to that across the South East, where prices decreased 0.9%, and Gosport was lower than the UK as a whole, where prices did not change.

Over the last year, the average sale price of property in Gosport rose by £6,500 – putting the area 42nd among the South East’s 64 local authorities with price data for annual growth.

The highest annual growth in the region was in Winchester, where property prices increased on average by 10%, to £518,000. At the other end of the scale, properties in Elmbridge, Surrey, lost 4.7% of their value, giving an average price of £665,000.

First-time buyers in Gosport spent an average of £227,300 on their property – £5,400 more than a year ago, and £38,400 more than in May 2018.

By comparison, former owner-occupiers paid £271,400 on average in May – 19.4% more than first-time buyers.

Buyers paid 35.5% less than the average price in the South East (£389,000). Across the South East, property prices are high compared to those across the UK, where the average cost is £286,000.

In the neighbouring Fareham local authority area, the average Fareham house price in May was £359,599 – a 0.9% increase on April.

The average sale price of property there has risen by £9,300 in 12 months (41st among the South East’s 64 local authorities).

The picture was brighter in the Havant local authority area, where the average house price in May was £336,094 – a 2.1% increase on April.

Over the month, the picture was different to that across the South East, where prices decreased 0.9%, and Havant was above the UK as a whole, where prices did not change.

The average sale price of property there has risen by a whopping £21,000 – putting the area fourth among the South East’s 64 local authorities.