𝐖𝐚𝐭𝐞𝐫𝐥𝐨𝐨𝐯𝐢𝐥𝐥𝐞 𝐏𝐫𝐨𝐩𝐞𝐫𝐭𝐲 𝐌𝐚𝐫𝐤𝐞𝐭: 𝟐𝟎𝟏𝟏-𝟐𝟎𝟐𝟏
𝘈 𝘭𝘰𝘰𝘬 𝘣𝘢𝘤𝘬 𝘢𝘵 𝘵𝘩𝘦 𝘞𝘢𝘵𝘦𝘳𝘭𝘰𝘰𝘷𝘪𝘭𝘭𝘦 𝘩𝘰𝘶𝘴𝘪𝘯𝘨 𝘮𝘢𝘳𝘬𝘦𝘵 𝘰𝘷𝘦𝘳 𝘵𝘩𝘦 𝘭𝘢𝘴𝘵 𝘥𝘦𝘤𝘢𝘥𝘦
With all of us completing the Census, a couple of weeks ago, it made me realise profoundly that mine and my family’s life, which from our own point of view seems unique and delightful, makes us all into a series of statistics for the Census gatherers to pore over. To digest and regurgitate facts, figures and trends for those who are interested in the ever- changing social circumstances of these islands.
However, the information from the Census is vital to improving our lives - Governments can plan the future with the information it provides and we in turn can wonder about the lives of our past generations with the information provided therein historically if we so wish.
Whilst the information from this Census won’t be published until March 2023, let us have a look at what has been happening in the Waterlooville property market since the last time we completed the Census in 2011.
Just to remind you, 2011 saw the wedding of Prince William and Kate Middleton, Mr Cameron was the PM, there was the last flight of the Space Shuttle and Game of Thrones premiered.
𝐖𝐡𝐢𝐥𝐬𝐭 𝐢𝐧 𝐭𝐡𝐞 𝐖𝐚𝐭𝐞𝐫𝐥𝐨𝐨𝐯𝐢𝐥𝐥𝐞 𝐩𝐫𝐨𝐩𝐞𝐫𝐭𝐲 𝐦𝐚𝐫𝐤𝐞𝐭 …
The average price paid for a Waterlooville detached home in the last 12 months has been £425,000. The average value of a Waterlooville detached home has risen by 37.2% in the last 10 years or £119,600
The average price paid for a Waterlooville semi-detached home in the last 12 months has been £319,200. The average value of a Waterlooville semi-detached home has risen by 41.1% in the last 10 years or £95,000
The average price paid for a Waterlooville town house/terraced home in the last 12 months has been £249,400. The average value of a Waterlooville town house/terraced home has risen by 38.2% in the last 10 years or £81,800
The average price paid for a Waterlooville apartment/flat in the last 12 months has been £151,800. The average value of a Waterlooville apartment/flat has risen by 46.6% in the last 10 years or £65,900
𝐍𝐞𝐰 𝐩𝐫𝐨𝐩𝐞𝐫𝐭𝐢𝐞𝐬 𝐛𝐮𝐢𝐥𝐭 𝐢𝐧 𝐖𝐚𝐭𝐞𝐫𝐥𝐨𝐨𝐯𝐢𝐥𝐥𝐞…
Irrespective of any dip in Waterlooville house prices or transactions when the Stamp Duty Holiday ends in the autumn, this is a trend that looks set to continue, with no sign that supply of new homes is anywhere near to keeping pace with demand for households.
There have only been 908 new properties built in Waterlooville in the last 10 years,
that’s less than 8 a month. That means the population in Waterlooville has risen by
1.93 people for every new home built over that decade.
Nationally, the Country has only built just over 180k homes a year over the last decade, 120k less than the national target of 300k. In the meantime, the population has grown by more than 4 million.
When looking locally at the size of new build property in Waterlooville, the average property is just over 850 sq. ft., which is 46% larger than a decade ago.
𝐑𝐞𝐧𝐭𝐬 𝐢𝐧 𝐖𝐚𝐭𝐞𝐫𝐥𝐨𝐨𝐯𝐢𝐥𝐥𝐞 …
Whether you are a winner or loser in terms of rental values depends on whether you are a Waterlooville landlord or a Waterlooville tenant.
The average rent for a property in Waterlooville currently stands at £1,370 per month,
whilst a decade ago, it was £1,114 per month
This means private rents have increased by £2.13 a month for the past ten years. Interesting, when compared to the national average of 98p a month whilst in London, rents have grown by £4.64 a month.
𝐓𝐡𝐞 𝐧𝐞𝐱𝐭 𝟏𝟎 𝐲𝐞𝐚𝐫𝐬 𝐨𝐟 𝐭𝐡𝐞 𝐖𝐚𝐭𝐞𝐫𝐥𝐨𝐨𝐯𝐢𝐥𝐥𝐞 𝐏𝐫𝐨𝐩𝐞𝐫𝐭𝐲 𝐌𝐚𝐫𝐤𝐞𝐭…
The next ten years will also be just as fascinating. To try and predict would be a fool’s game.
For example, who would have believed what the Waterlooville property market has done in the last 12 months since the start of Lockdown 1.0. The number of transactions (i.e. people moving) in turn with UK house prices having risen so much in the last year ... all during a worldwide pandemic and at a time of such mayhem and havoc in the UK and world economy, is nothing short of remarkable … the question is – is it sustainable?
Read these articles in the coming months and years and I will share with you what is happening to the value of your Waterlooville property, be you a Waterlooville homeowner or Waterlooville landlord.