We often talk about the average price of a home in Basingstoke, but that single figure can hide more than it reveals.
A one-bedroom flat, a three-bedroom family home and a substantial four-bedroom property serve completely different buyers. Combining them into one town-wide average does not tell us how the local property ladder is shaped, or how much buyers have historically paid to move from one rung to the next.
Looking at completed property sales split down by bedroom and price in Basingstoke since 1 January 1995 gives us a much clearer picture. During that period, 33,139 homes were sold across Basingstoke. Of those transactions, 2,989 were one-bedroom homes, 8,143 had two bedrooms, 14,891 had three bedrooms and 7,116 had four bedrooms or more.
(Basingstoke – RG21-RG24)
These figures are based on homes that actually sold. They are not estimates of what the properties are worth today, nor are they current asking prices. They show the average prices paid by buyers across completed transactions since the beginning of 1995.
What type of homes make up the Basingstoke property market?
The mix of homes sold in Basingstoke can be compared with the national housing market to show whether the town is weighted more heavily towards smaller properties, mid-range family homes or larger executive houses.
In Basingstoke, one-bedroom homes represented 9.0% of sales, while the national figure is 7.38%. Two-bedroom homes made up 24.6% of the local market, compared with 25.98% nationally. Three-bedroom homes accounted for 44.9% of sales in Basingstoke, against the national benchmark of 46.06%. Finally, homes with four bedrooms or more represented 21.5% of Basingstoke sales, compared with 20.58% nationally.
As you can see, there is a slight difference between the local mix and the national mix.
What have buyers historically paid for their Basingstoke homes?
Across completed sales since January 1995, the average price paid for a one-bedroom home in Basingstoke has been £149,318. The average paid for a two-bedroom home has been £205,876, while three-bedroom properties sold for an average of £260,978, and for homes with four bedrooms or more, the average price paid has been £386,702.
Again, these figures should not be read as current valuations.
A home bought in 1995 forms part of the same dataset as one purchased much more recently. The figures instead provide a long-term picture of what buyers have paid for different sizes of property. The more revealing numbers are the gaps between them.
Where is the biggest price jump in the Basingstoke area?
In Basingstoke, the average price paid rises by 37.9% when moving from a one-bedroom home to a two-bedroom home. Nationally, the equivalent increase is 25.6%. The jump from two bedrooms to three bedrooms is 26.8% in Basingstoke, compared with 26.8% across the country. Moving from a three-bedroom home to a property with four bedrooms or more produces an uplift of 48.2% locally, against a national increase of 46.8%.
These figures do not suggest that one type of home offers better or worse value. They simply show how the average prices paid have differed between each rung of the property ladder since January 1995. The gaps/mix reflects the type, location, and quality of homes sold within each bedroom category.
How the Basingstoke postcode districts compare.
The Basingstoke average provides the main picture, but the local and surrounding area property market can vary significantly between postcode districts.
- RG21 – 15.8% of sales were one-bedroom homes, 34.9% were two-bedroom, 38.5% were three-bedroom and 10.7% had four bedrooms or more. Average prices paid were £154,757 / £196,844 / £248,831 and £371,549 respectively.
- RG22 – 6.7% of sales were one-bedroom homes, 21.0% were two-bedroom, 48.3% were three-bedroom and 24.0% had four bedrooms or more. Average prices paid were £135,185 / £193,110 / £244,357 and £368,355 respectively.
- RG23 – 2.6% of sales were one-bedroom homes, 12.6% were two-bedroom, 55.4% were three-bedroom and 29.5% had four bedrooms or more. Average prices paid were £214,877 / £280,132 / £280,103 and £416,130 respectively.
- RG24 – 8.2% of sales were one-bedroom homes, 24.0% were two-bedroom, 43.2% were three-bedroom and 24.6% had four bedrooms or more. Average prices paid were £146,350 / £214,650 / £279,776 and £398,281 respectively.
The figures show that there is no single Basingstoke property market.
Different parts of the town contain different mixtures of homes, attract different buyers and create different price jumps between bedroom categories. For Basingstoke homeowners, this is why broad national headlines and even regional and town-wide averages should always be treated as a starting point rather than the final answer.
The value and saleability of an individual home will depend on its condition, location, style, plot, presentation and the strength of current buyer demand. However, the historic sales data does reveal something valuable. It shows the structure of the Basingstoke property ladder, where most local transactions take place and, most importantly, where buyers have historically faced the biggest jump when searching for their next home.
Share your thoughts on your story of climbing up the property ladder. Was it worth it? Did it change your life? Would you do it again?
