Latest prices in Mid Devon for flats and apartments
The latest figures show that the average price for a Flat & Apartment property in Mid Devon has now reached £151,087 as of Jul 2024. This value is based upon the average value of completed property transactions in the month of July.
Average prices for a Flat & Apartment property have increased substantially over the longer term in Mid Devon. Back in January 1995, prices for this type of property averaged £39,768 based on sales at the time. Fast forward to January 2024, and averages reached £151,631 - representing a growth of 281% over 29 years.
This substantial triple-digit percentage rise in Flat & Apartment property values far outpaced broader inflation over the same period. Rising household incomes, strong local economy, high demand and constrained supply all likely contributed to the steep price inflation seen for Flat & Apartment homes in Mid Devon over the past 3 decades.
Our data is sourced directly from HM Land Registry and their UK House Price Index report. This dataset is updated several times a year and we always attempt to have the most up to data information available.
The UK HPI uses sales data collected on residential housing transactions, whether for cash or with a mortgage. Properties have been included in England and Wales since January 1995, in Scotland since January 2004, and in Northern Ireland since January 2005, Data is available at a national and regional level, as well as counties, local authorities and London boroughs.
Flat & Apartment prices in Mid Devon over the last 12 months
Date
Price
Aug 2023
£157,720
Sep 2023
£154,317
Oct 2023
£152,967
Nov 2023
£151,885
Dec 2023
£158,080
Jan 2024
£151,631
Feb 2024
£151,063
Mar 2024
£149,671
Apr 2024
£152,093
May 2024
£152,606
Jun 2024
£151,236
Jul 2024
£151,087
Recent trends for prices in Mid Devon
The latest figures from July 2024 indicate the property market in Mid Devon continues to show rising price trends. Compared to June, 2024, average prices increased by 0.2% to £293,887. On an annual basis, average property prices have decreased -3% since 12 months ago.
In terms of sales activity, there were 48 residential property transactions completed in Mid Devon during July, 2024. Of these purchases, 26 were financed with a mortgage while 7 were all-cash sales. For cash buyers, average prices have changed by 0.1% since June, 2024, coming in at around £291,191. For properties purchased with a mortgage, the average price changed by 0.2% since June, 2024, to £295,859.
Compared to the overall picture in its national parent England, the average property price in Mid Devon are lower than the current national average of £305,879. While Mid Devon saw a change of 0.2% over the last month, England as a whole recorded a percentage change of 0.2% in average property values. And on an annual basis, prices across England have grown by 1.6%, more than the -3% yearly change seen in Mid Devon.
Interested in purchasing a property in Mid Devon? Use our Monthly Mortgage Cost Calculator to see how much a property may cost you per month. This tool is for illustrative purposes only and does not constitute financial advice.
Average price in Mid Devon by housing type
Prices last recorded in July, 2024
average
£293,887
detached
£431,070
flat
£151,087
semi-detached
£286,588
terraced
£232,545
Prices by housing type in Mid Devon
Recent data shows that price growth has varied across different property types in Mid Devon over the last year. For terraced houses, property prices changed by 0.1% between July 2024 and June 2024 to reach £232,545, and changed by -2.8% over the last 12 months. The annual change was greater than the 1.8% change seen for terraced homes in England overall.
Meanwhile, semi-detached properties saw a rise in average prices locally, taking them to £286,588 in June 2024. This represents a 0.2% change from the same month last year.This is underperforming the 2.2% annual change in semi-detached values across the country.
Detached homes in Mid Devon gained 0.3% month-over-month to reach an average of £431,070. Annually, detached property values have changed by -3.5%. This is weaker price growth compared to England's 1.6% change for detached houses over the year.
For apartments and flats, average prices decreased by -0.1% between July and June 2024, hitting £151,087. Over the last 12 months, apartment values have changed by -5.3%, lagging England's flat and apartment growth rate of 0.4%.
Overall, semi-detached properties have seen the strongest price momentum locally over the past year, with a change of -1.8%, while flat properties lagged, with a change of -5.3%.
Recent purchases in Mid Devon
According to data from HM Land Registry, there were 48 completed property purchases in the area of Mid Devon in July 2024. Of these sales, 7 were recorded as cash purchases whilst 26 were purchased using a mortgage. Compared to this time 12 months ago, the percentage of properties purchased using a mortgage has changed by -2.6% and the percentage of properties purchased with cash has changed by -3.6%.
The number of cash and mortgage purchases may not match the recorded number due to exclusions listed on the gov.uk website
Looking for a specific property type?
Use one of the following links to find more specific information about the type of property you're looking for in mid-devon.
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