If you”re thinking of buying a property in Cheltenham in the next few months then you might be wondering what the market landscape looks like, so here’s a two-minute digest for you!
The average house price in Cheltenham was £341,000 in August this year
The average house price in Cheltenham for August 2024 was £341,000, up £2,000 from the August 2023 average of £339,000.
Across the south west as a whole, August 2024’s average house price was £321,000, which was a rise of £3,000 from £318,000 in August 2023.
This figure is quite a bit higher than the Great Britain average of £296,000 (August 2024), although this national average rose quite a bit since August 2023’s average of £288,000.
Cheltenham flats are growing in price
The average price for flats in Cheltenham rose by 1.1% between August 2023 and August 2024 to £229,000. The average price for semi-detached houses fell by 1.7%, however, so this could be a sign of buyers feeling more cautious.
For each property type, average prices as of August 2024 in Cheltenham were:
The average August 2024 prices for different property types was:
- Detached houses – £607,000
- Semi-detached houses – £397,000
- Terraced houses – £324,000
- Flats and maisonettes – £229,000
First-time buyers in Cheltenham paid an average of £285,000 in August 2024
First-time buyers paid an average of £285,000 in August 2024, compared to the £282,000 first-time buyers paid 12 months previously.
Cash buyers in Cheltenham are still benefitting from paying up front
If you have the money upfront when you buy your Cheltenham property you’ll benefit from a lower average price. In August 2024 the average spend for cash buyers was £323,000, up just £1,000 in August 2023.
Across the south west, cash buyers spent an average of £312,000 in August 2024 and the national average was £277,000.
