Isle of Wight house prices rise above the national average

·2-min read
What are the latest house prices in Isle of Wight? See how much your home could be worth (PA)
What are the latest house prices in Isle of Wight? See how much your home could be worth (PA)

House prices in Isle of Wight have soared by an average of over £11,000 in the month of May, according to figures from the Land Registry.

The price increase means the area has now risen above the national average.

The latest data from the government department reveals that in May 2022 average house prices in Isle of Wight reached £291,878.

This was up from £280,005 in April, representing a 4.2 per cent increase. In the last 12 months it has risen by 18.1 per cent.

If you are interested in buying or renting a home, you can see the latest properties in and around Isle of Wight here.

How much have house prices increased in Isle of Wight?

Breaking it down for specific types of housing, all prices saw an increase.

  • Detached houses - Up to £444,195 from £426,312 in April

  • Semi-detached houses - Up to £302,532 from £289,970 in April

  • Terraced houses - Up to £239,769 from £229,247 in April

  • Flats - Up to £159,757 from £153,827 in April

Isle of Wight County Press: What%are%the%latest%house%prices%in%Isle of Wight%? (PA)
Isle of Wight County Press: What%are%the%latest%house%prices%in%Isle of Wight%? (PA)

What%are%the%latest%house%prices%in%Isle of Wight%? (PA)

How do Isle of Wight house prices compare to the UK average?

The monthly Isle of Wight price rise means the area is now slightly above the UK average, with a typical property value in the nations reaching £283,496 in May.

In cash terms, the average house price in May was £32,210 higher than a year earlier with house price growth accelerating to 12.8 per cent in May 2022. Prices were up by 1.2 per cent month on month.

How much could your house be worth?

We have created this map for the South East so you can see the average house price in each neighbourhood since 1995.

Sites like Zoopla can offer an estimate valuation of your house if you input your postcode into their website here.

The above map can demonstrate which areas of Isle of Wight are the most expensive for average house prices.