House prices in Cheltenham rose by 5 times the UK average in 2017
If you’re looking to buy a house in Cheltenham you’ll probably want to carry on saving for a while yet.
Cheltenham now has the fastest growing housing market in the UK, ahead of Bournemouth, Brighton and London. While the UK saw a 2.7 per cent increase in the average house price last year, Cheltenham saw a 13 per cent increase.
Unlike last year, the country’s most successful areas in terms of the housing market aren’t exclusive to the South East, with the South West contributing 15 of the top 20 performing regions of the year.
As of January 2016, the average house in Cheltenham cost roughly £235,000. This value soared to over £270,000 by October the following year, an increase of £35,000.
Over the same period, the average UK household rose in value by under £20,000, and Cheltenham is now well above average, but that doesn’t put prospective home-buyers off.
Samantha Bond, who is looking to move to Cheltenham, said “I’m looking for somewhere vibrant, lots to do, and I love the architecture in Cheltenham. I’ve already sold my property. I’m currently renting so would like to get on the property ladder as soon as possible.
“I could pick up a two-bedroom house in Cheltenham now, whereas in Oxford I would need to double my money or take out a much bigger mortgage. My main priority is a garden and parking, which in Cheltenham doesn’t come very often.”
40 acres, 4 more bedrooms, idyllic scenery, stables and a summerhouse, all for 50 grand less than this Cheltenham imperial square townhouse #cheltenhamhousingcrisis
— Park Life (@UOGParkLife) January 8, 2018
