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Housing prices in Torbay

How average house prices and rents are changing in Torbay.

In Torbay:

House price £250,000

The average house price in Torbay was £250,000 in May 2024 (provisional), similar to the revised figure for May 2023. Across the South West, the average house price rose by 2.3% over the same period.

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Monthly rent £834

Private rents rose to an average of £834 in June 2024, an annual increase of 3.6% from £804 in June 2023. This was lower than the rise in the South West (7.0%) over the year.

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First-time buyers £217,000

The average price paid by first-time buyers was £217,000 in May 2024 (provisional). This was in line with the average in May 2023 (revised).

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Mortgage buyers £254,000

For homes bought with a mortgage, the average house price was £254,000 in May 2024 (provisional). This was similar to the average in May 2023 (revised).

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Warning:

Local housing data are based on a smaller number of properties than our national estimates. This means that short-term trends are more variable. We advise looking at trends over a year or longer.

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 Torbay was £250,000 in May 2024

The provisional average house price in Torbay in May 2024 was £250,000. This was in line with the average of £250,000 in May 2023 (revised), a 0.3% change.

Annual change in house prices in Torbay

House price annual inflation, Torbay, January 2005 to May 2024

Across the South West, the average house price in May 2024 was £318,000, which was more than a year earlier (£311,000).

Across Great Britain, a home sold for an average of £288,000 in May 2024, which was up from the May 2023 average of £282,000.

In the year to May 2024, the average price for semi-detached properties in Torbay rose by 1.3%, while the average price for flats decreased by 1.7%.

Change in house price by type of property in Torbay

Provisional figure for 12-month change in house price, by property type, May 2024

For each property type, average prices as of May 2024 in Torbay were:

  • Detached properties: £421,000
  • Semi-detached properties: £289,000
  • Terraced properties: £220,000
  • Flats and maisonettes: £159,000

Average private rents rose in Torbay

The average monthly private rent in Torbay was £834 in June 2024. This was an increase from £804 in June 2023, a 3.6% rise.

Annual change in rents in Torbay

Private rental price annual inflation, Torbay, January 2016 to June 2024

Across the South West, the average monthly rent was £1,125, up from £1,052 a year earlier.

Across Great Britain, the average rent price in June 2024 was £1,271, which was up from £1,170 in June 2023.

Average rent in Torbay compared with the South West

Average rental price, June 2024

In Torbay, the average rent for flats or maisonettes rose by 3.8%, while for detached properties and terraced properties, it increased by 3.5%.

Average rent for one bed properties rose by 4.1%, while the average for four-or-more bed properties increased by 2.7%.

Change in average rents by bedroom number in Torbay

Monthly private rental price, annual inflation, June 2024

By how many bedrooms there are in a property, average rents as of June 2024 in Torbay were:

  • One bedroom: £556
  • Two bedrooms: £738
  • Three bedrooms: £903
  • Four or more bedrooms: £1,198

Taking the data instead by property type, average rents were:

  • Flats and maisonettes: £644
  • Terraced properties: £849
  • Semi-detached properties: £902
  • Detached properties: £1,116

First-time buyers in Torbay paid £217,000 on average in May 2024

The provisional average price paid by first-time buyers was £217,000 in May 2024. This was in line with the revised May 2023 average of £217,000.

First-time buyer house price in Torbay compared with the South West

Average house price for first-time buyers in May 2024

In comparison, home-movers in Torbay paid an average of £279,000 in May 2024. This was in line with £281,000 a year earlier.

In May 2024, the average price was £360,000 in the South West and £332,000 in Great Britain.

We do not produce figures for first-time buyer prices by type of property. Average house prices by property type for price paid data are available above.

Average house price for mortgage buyers stayed level in Torbay

The average price of a home bought with a mortgage in Torbay was £254,000 in May 2024 (provisional). This was in line with an average of £253,000 in May 2023 (revised).

Across the South West, the average price of a home bought with a mortgage was £323,000, up from £314,000 a year earlier.

Across Great Britain, the average price for buying with a mortage in May 2024 was £297,000, which was up from an average of £290,000 in May 2023.

Price paid when buying with a mortgage or cash in Torbay

Average house price in May 2024

For cash buyers in Torbay, the average was £245,000 in May 2024 (provisional), which was in line with a revised figure of £247,000 a year earlier.

In May 2024, the average was £311,000 in the South West and £270,000 in Great Britain.

More data about Torbay

Explore more local data for Torbay.

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.

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.

We will add Northern Ireland data to this tool following the release of more granular private rent price statistics for Northern Ireland, which we aim to do in March 2025.

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