House prices & sales in Buckinghamshire

Buckinghamshire’s average house price rose for a second successive month in January to start the year at a record high of £413,964.

Over the last year, Buckinghamshire’s average house price has increased by 5.2 per cent, or £20,543, above the national and regional rates of increase but ranking only 16th among the 27 county council areas.

Table 1: Mean house prices, January 2018

Source: Land Registry, 2018

Semi-detached houses have seen Buckinghamshire’s strongest price increase over the last year, rising 5.9 per cent to a new high of £400,790, ahead of terraced houses (up 5.6 per cent), detached houses (5.0) and flats (4.2).  All property types in Wycombe saw average prices fall in January, reducing strong annual growth, while all other property types in each of the other districts saw increases in average price both over the year and compared to December.

Table 2: Mean house prices & annual change by property type, January 2018

Source: Land Registry, 2018

There were 572 house sales in Buckinghamshire in November, taking the total for the last year to 8,407, the lowest for any 12 month period since the end of 2013.  Compared to the year ending November 2016, sales have fallen by 10.8 per cent across Buckinghamshire, more than in any other county council area, and by 18.3 per cent in Aylesbury Vale, the 13th largest fall of all local authorities in Great Britain.  Despite having fallen almost a third (31.8 per cent) since the peak of 12,322 reached in the year to November 2007, house sales in Buckinghamshire have been more resilient than the country and the South East as a whole in recent years, as shown in chart 1 below, but rank only 23rd among the 27 county council areas.

Chart 1: House sales over time (year to November 2007 = 100)

Source: HM Land Registry, 2018

Chart 2: Mean house prices over time (January each year, 2008 = 100)

Source: HM Land Registry, 2018