Housing prices in North Somerset

In North Somerset:

We regularly revise our house prices estimates. UK-level rent estimates for the latest two months, and all house price data, are provisional and subject to revision.

Figures in this article are not seasonally adjusted.

You may also be interested in our recent analysis of which local areas of England and Wales have been most and least exposed to rising mortgage and rent costs during 2023.

Average house price in North Somerset was £325,000 in February 2024

The provisional average house price in North Somerset in February 2024 was £325,000. This was in line with the average of £327,000 in February 2023 (revised), a 0.5% change.

Across the South West, the average house price in February 2024 was £317,000, which was in line with a year earlier (£318,000).

Across Great Britain, a home sold for an average of £283,000 in February 2024, which was in line with the February 2023 average of £284,000.

In the year to February 2024, the average price for detached properties in North Somerset stayed around the same over the year, while the average price for flats decreased by 2.7%.

For each property type, average prices as of February 2024 in North Somerset were:

• Detached properties: £518,000
• Semi-detached properties: £343,000
• Terraced properties: £267,000
• Flats and maisonettes: £192,000

Back to top

Average private rents rose in North Somerset

The average monthly private rent in North Somerset was £1,064 in March 2024. This was an increase from £973 in March 2023, a 9.3% rise.

Across the South West, the average monthly rent was £1,107, up from £1,035 a year earlier.

Across Great Britain, the average rent price in March 2024 was £1,246, which was up from £1,142 in March 2023.

In North Somerset, the average rent for semi-detached properties rose by 9.6%, while for terraced properties, it increased by 9.0%.

Average rent for one bed properties rose by 9.6%, while the average for four-or-more bed properties increased by 8.7%.

Back to top

First-time buyers in North Somerset paid £264,000 on average in February 2024

The provisional average price paid by first-time buyers was £264,000 in February 2024. This was in line with the revised February 2023 average of £267,000.

In comparison, home-movers in North Somerset paid an average of £368,000 in February 2024. This was in line with £369,000 a year earlier.

In February 2024, the average price was £358,000 in the South West and £326,000 in Great Britain.

Back to top

Average house price for mortgage buyers stayed level in North Somerset

The average price of a home bought with a mortgage in North Somerset was £337,000 in February 2024 (provisional). This was in line with an average of £338,000 in February 2023 (revised).

Across the South West, the average price of a home bought with a mortgage was £321,000, in line with £321,000 a year earlier.

Across Great Britain, the average price for buying with a mortage in February 2024 was £292,000, which was in line with an average of £293,000 in February 2023.

For cash buyers in North Somerset, the average was £304,000 in February 2024 (provisional), which was in line with a revised figure of £307,000 a year earlier.

In February 2024, the average was £310,000 in the South West and £266,000 in Great Britain.

Back to top

More data about North Somerset

Explore more local data for North Somerset.

More data on the housing market

This article is regularly updated with the most recent rents and house prices information. The full time series for rental prices can be found in our associated data releases. The full time series for house prices can be found in the UK House Price Index reports on gov.uk.

You can also read our most recent Private rent and house prices bulletin.

The methods used to produce the rental prices can be found in the Price Index of Private Rents Quality and Methodology Information. The methods used to produce the house prices can be found in the House Price Index Quality and Methodology Information.

Back to top

About this article

The content in this article is generated using semi-automated journalism, based on rules pre-programmed by Office for National Statistics (ONS) staff.

This is a new product in Beta release, intended to improve the accessibility of housing market data at local level. Send us feedback about this page or contact the housing analysis team by emailing hpi@ons.gov.uk.

Articles are not available for Isles of Scilly and City of London, as the survey samples of the resident population are too small.