Housing Market: Ups And Downs In Chippenham

House prices in Chippenham have soared over the last decade thanks to its, now well established, position as an M4 commuter haven.

Good transport links, decent schools and the appeal of living in a charming market town with Bath, Bristol and the Cotswolds on your doorstep have been pulling in families and business' for the last few years - pushing the population up to nearly 40,000.

As a result of the rapid influx of people the town saw a housing boom, so it's no surprise that it's now one of the most expensive places to live in North Wiltshire. 

But what affect has the growing market had on prices?

Although a Halifax report last week revealed that house prices in the UK had stabilised, Chippenham seems to be bucking the trend with prices still fluctuating.

Before the financial crisis the average house price in Chippenham sat high at £206,708 but during the recession, like the rest of the UK, we saw prices plummet. In just three months between June 2008 and October the same year prices fell by nearly 20 per cent.

Prices then picked up and last year the average price was up to £208,000, just shy of the pre-recession boom, but 2010 so far has shown a fall, with the average sliding back down to £174,000. (based on selling price, not asking)

Despite the ups and downs Chippenham still sits above the national average, which according to Nationwide's house price index last month, was at £167,953.Here's how prices looked as of June 2010:

June 2010

Detached £248,545

Semi        ££169,378

Terraced £147,340

Flat  £114,998

If we compare these prices with the average selling prices in 2000 the increase is startling and shows just how much Chippenham's market has changed:

April 2000

Detached £147,382

Semi        £86,081

Terraced £76,008

Flat  £65,917

For more information on these figures you can check out Home.co.uk but remember, these statistics don’t take into account location. 

If you're looking to live in one of Chippenham's more expensive areas, such as Cepen Park North, Pewsham or any town centre properties then the prices will be higher.

Chippenham's high house prices have had a negative affect on first time buyers with many being priced out of the market. So young adults who had hopes of buying a home near Mum and Dad have been forced out to cheaper town's like Corsham and Calne, where prices are more manageable.

However, renting has become much more popular in Chippenham. You only have to drive along Park Lane to see a number of To Let signs on many of the terraced homes, and the three big estates saw a rise in renters. It's no surprise either now the average deposit for first time buyers sits at 24 per cent.

Despite the uncertainty in the market if you are looking to buy or sell in Chippenham then you won't be short on advice. The town centre is positively littered with estate agents. Many of whom took advantage of the town's boom a few years ago. The good thing is that a lot of the firms are independent so they really know the town't market. Try Kingsley Pike or Goodman Warren Beck for starters. The Letting Shop are the town's experts for anyone looking to rent.

For a full list of Chippenham's estate agents take a look here. We also have a list of the best picks from Chippenham's property market in our property section.

What's your experience of the market in Chippenham been? Have you notice improvements lately? Let us know.