Poole: Weathering The Property Market Storm

Poole: Weathering The Property Market Storm

Across the country house prices are yo-yoing, with some areas having a harsh time whilst others prosper against tough conditions. Poole is well and truly in the latter camp, with property prices rising and the area being highly sought-after by people looking to move to seaside towns. This blog explores how Poole is holding its own against testing conditions.

The Pull Of The Tide

For the third year running, Sandbanks in Poole has been named Britain’s most expensive coastal town. Despite a drop of over £35,000, the average house price in the area still remains over £625,000. Attributed to the higher costs of stamp duty for expensive homes, this is a slight mark on the otherwise stellar rise the area has had.

With the likes of Brexit meaning people are uncertain on whether they should move home or sell property, house prices have been dropping in certain areas. Though despite large drops in cities such as London, house prices in British seaside towns have increased by 21% on average over the past decade.

What makes Sandbanks so special to command such a high property price? Well, it contains the highest amount of sunshine per week (33 hours) out of the ten most expensive coastal towns. It also ranks in fifth place for the happiest place to live, meaning there’s smiles and sun for those that purchase a home in Sandbanks.

Poole’s Rising Prices And Redevelopment

Away from the sea and Poole is thriving. House prices have risen on average by 8.3% over the past 12 months. This puts the area way beyond the UK average, with Poole’s property averaging at £317,561 compared to the UK £229,906. In terms of sales, Poole’s 3150 homes were similar to 2017’s levels meaning that homes were not only selling for more, but also at the same regularity.

Considering there’s already growth and a high-demand for houses in the area, Poole aren’t resting by their laurels as they look to improve the infrastructure for further increases in prices and desirability. A flurry of development activity looks set to reinvigorate the centre of Poole and add new resources to the centre. Improvements are touted for the Dolphin Shopping Centre, with a nine-screen cinema planned as well as renovating communal spaces in the centre.

In order to meet increased demands of high-end property, there’s a string of ambitious proposals in place with the planning department to offer properties of all sizes to members of the public. From large-scale flat developments to large properties on the sea-front, there are plans for accommodation for families of all shapes and sizes.

Then you have the £100 million redevelopment for a marina opposite Poole Quay, with houses and retail outlets planned offering a whole new area to attract tourists. It’ll look to offer opportunities for new and existing businesses and has already been subject to amendments from public forums. This will now be looked at by Poole council to decide whether they can go-ahead with the ambitious plans.

Can Poole Continue To Buck The Trend?

All the points above seem to point at Poole continuing to have a growing property market. With the quality of life increasing for those in the local area, and the pull for tourists and businesses larger than ever Poole should prosper.

For an independent business like Coversure Poole, this is brilliant news. We’re delighted to support the local community and get to know new businesses and locals in the area. We provide insurance to people, businesses and more, since founding we’ve assisted thousands of businesses with their cover and protecting what matters to them the most.

Contact Coversure Poole

Got a question on the blog? Or even want a quotation for your insurance cover? Coversure Poole are here for you. You can call us today on 01202 801 782 or click here for our full contact details.

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