Winchester is one of the top ten areas in the UK for the largest house price increase in 2023, data has shown.

Semi-detached homes in Winchester show the largest increase in house value over other property types, following a 2023 regional housing price study.

In the study conducted by researchers at conveyancing solicitors, Bird & Co, Winchester was ranked at number six for the largest increase in house prices in the UK.

Researchers Bird & Co have explored recently released Land Registry data to present a detailed overview of the housing market trends throughout 2023.

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The analysis shows Winchester is one of the top ten areas in the UK for the largest house price increase in 2023.

Semi-detached homes in Winchester experienced the most significant price increase, rising by 10.74 per cent in 2023 from an average of £492,331 in January 2023 to £545,228 in December of the same year.

Detached properties in the city and surrounding area also saw a significant increase in value, with a percentage increase of 9.13 per cent, taking the average value of a detached property from £811,764 to £885,900.

Average house prices in Winchester increased by 9.17 per cent overall, placing the area as having the sixth largest increase compared to the rest of the UK.

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Prices fluctuated month to month, showing the most drastic change from October to November, with a decrease of 4.46 per cent, and then rising again by 4.90 per cent in December.

In contrast to areas listed in the top 15, house prices dropped hardest in some of the most expensive boroughs, including City of Westminster, Kensington and Chelsea, and Hammersmith and Fulham.

Partner at Bird & Co, Daniel Chard, said: “For aspiring homeowners, the housing market's status dictates affordability and accessibility.

"Rising prices pose challenges, demanding higher down payments and limiting options. On the other hand, stability or decreases create a more favourable environment for those entering the market.

“Sudden changes trigger cascading effects, shaping lending practices, construction trends, and consumer confidence. Staying informed is crucial for informed decisions in the dynamic housing market."

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