Fareham Property News - How did property prices fare in 2016?
It is the time of year when we can look at how property prices in 2016 fared in comparison to the decade preceding it. With property price data still to come through for the end of the year, our estimates paint a promising picture. The average flat price increased by 1.3% to £132,500 and the average house price increased by 3.5% to £275,800 versus 2015 prices.
The total number of property transactions and the mix of properties are strong indicators of the buoyancy of the local property market in the area. The adjacent chart gives an indication of the changing market structure in Fareham. We estimate that 428 flats, 438 terraces, 533 semis and 432 detached properties were sold in 2016.
An analysis of commuting preferences in Fareham shows that the majority of people use a car (79.5%). This is followed by on foot (8.5%), and then train (4.6%). It will be interesting to monitor how this pattern changes over time given the trend in Fareham and everywhere else to use more public transport and healthier options.
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