A Devon area features in the top 10 UK areas for the largest house price increase in 2023. Semi-detached homes in South Hams show the largest increase in house value over other property types in the 2023 regional housing price study.
It ranks South Hams second overall for the largest increase in house prices in the UK. Researchers at conveyancing solicitors, Bird & Co, have explored recently released Land Registry data to present a detailed overview of housing market trends throughout 2023.
The analysis shows South Hams is one of the top ten areas in the UK for largest house price increase in 2023, alongside areas like Mole Valley and Winchester. Semi-detached homes here experienced the most significant price increase, rising by 13.16% in 2023.
READ NEXT:
The value increases for property types in South Hams were as follows:
| Property Type | Jan-23 | Dec-23 | % Difference |
| Flat | £222,016 | £241,192 | 8.64% |
| Semi-Detached | £395,286 | £447,300 | 13.16% |
| Terrace | £315,328 | £346,380 | 9.85% |
| Detached | £610,266 | £672,979 | 10.28% |
Average house prices in South Hams increased by 10.49% overall, placing them as the second largest increase compared to the rest of the UK. Prices fluctuated month to month, showing the most drastic change from November to December, which saw an increase of 4.52%.
Daniel Chard, Partner at Bird & Co, says, “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.”
⚠️ Want the latest Devon breaking news and top stories first? Click here to join our WhatsApp group. We also treat our community members to special offers, promotions, and adverts from us and our partners. If you don’t like our community, you can check out any time you like. If you’re curious, you can read our Privacy Notice ⚠️
