What is the average house price in Salisbury?
House prices across the UK have rocketed in recent years and Salisbury is no exception. The pandemic brought with it a frantic housing market, catalysed by the government’s Stamp Duty Holiday and a yearning for space away from urban centres like London.
According to Halifax, Salisbury experienced the highest growth in house prices of any UK city over the pandemic, up 36 per cent from the start of 2020. According to Rightmove, the average Salisbury property over the last year sold for £323,051, while Zoopla's data puts the average value at £380,632. The average UK property was worth £276,759 in January this year.
Here are the average values for different property types in Salisbury over the past 12 months:
- Detached: £522,378
- Semi-detached: £319,871
- Terraced: £283,761
- Flats: £187,182
(Data from Zoopla)
Why are house prices rising?
House prices in Salisbury are rising for a number of reasons. Pandemic lifestyle changes have made large, cramped and expensive cities like London less appealing, whilst our small, green and friendly city offers a better lifestyle for a lower price. Many businesses are keeping remote and hybrid working arrangements, so workers are able to move further away from the office. This has attracted many Londoners to Salisbury, with good transport connections enabling a commute to London whenever necessary.
Salisbury also holds appeal for families with good schools and plentiful surrounding countryside, not to mention its proximity to the New Forest National Park. With a flourishing, historic town centre and an abundance of independent business, the eating and shopping scene in Salisbury is thriving. Compared to the likes of Winchester, Salisbury offers good value for money for buyers.
Will Salisbury house prices continue to rise?
It is expected that house prices will continue to rise across the UK over the course of 2022, albeit more slowly than the previous two years, with many experts predicting a three per cent rise in average property prices this year.
With work-life patterns not returning to pre-pandemic norms any time soon, it is predicted that the drive for space and greenery will continue throughout the year. This means that locations like Salisbury will continue to be in demand, only pushing house prices higher.
If you’re thinking of capitalising on the high house prices and selling your property in Salisbury, speak to the local market experts at Jordan & Mason Estate Agents to arrange a free valuation.