What is the Average Property Price in Portsmouth?

Portsmouth, a historic port city on England’s south coast, is renowned for its rich maritime heritage, thriving cultural scene, and dynamic property market. Whether you’re looking to buy, invest, or sell a home, staying informed about current property prices is crucial for making informed decisions. In this blog, we’ll explore the latest average property prices in Portsmouth, the best-value areas in the city, and key factors shaping the market. 

Average property prices in Portsmouth

As of November 2024, the average property price in Portsmouth stands at £256,000, a 1.3% increase from November 2023.

Breakdown by Property Type

Property prices in the city vary widely, here’s an overview of the average property prices by type:

• Detached properties: £500,000
• Semi-detached properties: £348,000
• Terraced properties: £276,000
• Flats and maisonettes: £183,000

For first-time buyers, the average price is approximately £237,000, which is relatively affordable compared to the South East regional average, and the UK national average of £289,707.

What is influencing Portsmouth’s property prices?

Several key factors contribute to the current trends in Portsmouth’s property market:

Strong rental demand

Portsmouth’s significant student population, along with professionals attracted to jobs in its maritime industries and growing tech sector, has caused demand for rental properties. The average monthly rent in Portsmouth rose to £1,309 in December 2024, marking a 6.8% increase from the previous year.

Economic growth and employment opportunities

The city’s economy has diversified, with expansions in sectors such as technology, education, and tourism. This economic growth supports a steady demand for housing, as more individuals and families relocate to Portsmouth for employment opportunities.

Infrastructure and regeneration projects

Ongoing infrastructure improvements, including waterfront developments such as leisure centres and new residential buildings as well as transportation enhancements, have made certain areas in the city more attractive to buyers and investors. This has caused an increase in property values in these areas. 

What are the best value areas in Portsmouth?

If you’re looking to buy in Portsmouth, here are some areas offering affordability without compromising on great local facilities or accessibility:

Fratton

Known for its community feel and proximity to the city centre, Fratton offers a range of terraced houses and flats at competitive prices, making it popular among first-time buyers. Properties here sell for an average of £202,864.

North End

Only a short drive or bus ride from Gunwharf Quays and the Historic Dockyard, North End has a variety of affordable property types. Popular with families and professionals alike thanks to its schools and transport links, properties sell for an average of £232,862.

Milton

Offering a quieter feel than Fratton and North End with a mix of period and modern homes, Milton is close to the coast and has plenty of green spaces. Properties here sell for £267,112, appealing to those seeking a balance between city life and nature.

Is It a good time to sell in Portsmouth?

If you’re a homeowner contemplating selling, Portsmouth’s stable property market is certainly in your favour. The consistent demand, driven by the city’s economic growth and rental market, suggests that sellers can find motivated buyers, particularly for well-maintained properties in desirable areas. However, it’s always best to consult with local estate agents to get a valuation of your property before making a decision.

The future of Portsmouth’s property market 

Portsmouth’s property market is expected to remain stable in 2025, with potential for moderate growth. If you’re thinking of selling or buying, here’s what to watch out for this year: 

Sustainable housing initiatives

An increasing focus on eco-friendly building practices, such as the use of sustainable materials, landscaping and energy efficiency will influence new developments and renovations around the city.

Continued regeneration efforts

Areas undergoing regeneration are likely to see enhanced desirability and a potential rise in property values. City Centre North, Tipner West and Somerstown are all areas Portsmouth City Council are improving. 

Interest rate changes

With interest rates in the UK continuously fluctuating, it’s important to stay informed whether you’re a buyer, seller or investor. Interest rates can significantly impact affordability, demand, and property values in Portsmouth. 

Looking to sell?

If you’re looking to move to Portsmouth and you need to sell your house fast, we’ve got you covered. At Sell House Fast, our cash house buyer service enables you to sell your house ‘as-is’ for cash, giving you the freedom to move forward with certainty and peace of mind.  With a process that’s clear and transparent, and the ability to complete sales as fast as you require, you can trust us to handle your sale efficiently and professionally. Get in touch today for your free cash offer.