Buying a house is expensive and only getting more so. Last year, average house prices in England increased by 4.3%, meaning that the average price of a property in England is now £291,000. That’s a lot of money. And in the South West, it’s even higher. It’ll cost you, on average, around £306,000 to purchase a home in the West Country (rising by 3.8%, the smallest annual change after London’s 0% rise).
This is all according to the HM Land Registry, at least, which revealed the UK House Price Index last week (Wednesday, February 19). Looking at average house prices in the 12 months up to December 2024, it also found that the average first-time buyer in the South West was spending on a property £252,879, while a “former owner occupier” is spending about £365,103.
Where is the cheapest place to buy in the South West?
All of this poses the question, is there anywhere cheap to buy in the South West? Handily, the UK HPI also breaks down the data of local authorities’ average house prices, so we can see where you can grab a bargain. Though, we should note, this is a mix of unitary, county and district councils – meaning it’s the whole of Cornwall vs the city of Bristol, while Devon is split up and included again as a whole!
Nonetheless, the cheapest place to buy a property in the South West is Plymouth. Home to coastal views and vibrant culture – including history museums, art galleries, and music venues – it’s quite an attractive place to live. Even more so when you consider that the average house price is £214,209 (up 4.8% on the previous year). I’d learn to love the taste of seafood for that price!
Comparatively, but unsurprisingly, Bristol is nowhere near the top of the list. The average property price here is £355,756 (up 1.9%). Let’s get real, Bristol is a far greater city than Plymouth, with endless activities, but is it £141, 547 better? Yes, yes it is. And it’s at least a hell of a lot cheaper than Bath (£410,413) and the Cotswolds (£444,114).
For somewhere that’s closer to Bristol and on the cheaper end of the South West, consider moving to Gloucester. Less than an hour away by car or train, the average house price here only is £241,024 (up 3.3%). But, if you don’t care about location, then you should move to Burnley – the cheapest place to buy in the whole of England (£122,188).
The cheapest average property prices in the South West:
- City of Plymouth: £214,209 (4.8%)
- Torbay: £237,377 (-0.1%)
- Gloucester: £241,024 (3.3%)
- Swindon: £264,011 (3.6%)
- Torridge: £274,849 (-2.0%)
- Forest of Dean: £280,748 (3.4%)
- Somerset: £282,374 (3.5%)
- North Devon: £287,064 (-0.1%)
- Cornwall: £293,037 (2.2%)
- Mid Devon: £295,085 (-1.1%)
- Exeter: £295,274 (2.2%)
- Teignbridge: £299,723 (2.4%)
- West Devon: £306,046 (5.2%)
- North Somerset: £308,678 (1.2%)
- Devon: £314,518 (1.6%)
- Gloucestershire: £319,175 (4.2%)
- Bournemouth Christchurch and Poole (£328,453) 3.2%
- Wiltshire: £331,255 (4.6%)
- Cheltenham: £332,411 (4.5%)
- Dorset: £332,924 (0.4%)
- Tewkesbury: £334,361 (11.0%)
- Stroud: £337,088 (3.0%)
- South Gloucestershire: £339,008 (5.3%)
- East Devon: £350,786 (5.1%)
- City of Bristol: £355,756 (1.9%)
- South Hams: £384,343 (-1.4%)
- Bath and North East Somerset: £410,413 (1.7%)
- Cotswold: £444,114 (0.1%)
To see the complete UK House Price Index for England head here.