New figures from the Office for National Statistics have revealed that the average house price in the South Hams have increased by £5,000 over the past year.

The UK’s house price statistics have been published by the Office for National Statistics (ONS) today, and averages in different areas of the South Hams range from £246,000 to £640,000.

According to the statistics, the median house price in the South Hams is £350,000 as of March 2022, compared to £345,000 in March 2021.

The rise represents a £120,000 increase since March 2012, when the average South Hams house price was £230,000.

The cheapest area in the South Hams on average is Ivybridge West, where the median house price is £246,000, up from £245,000 in March 2021.

In Ivybridge East, costs are £24,000 higher on average, at £270,000, up from £235,000.

The most expensive area in the South Hams to buy a house is Salcombe and Thurlestone, with median prices at £640,000, up from £585,000.

In Totnes, house prices average £315,000 - an increase of more than £13,000 from March 2021’s average of £301,250.

Kingsbridge saw an increase of £12,500, rising from an average house price of £270,000 in March 2021 to £282,500.

South Brent house prices average £299,975, down from £315,000 in 2021, and Dartmouth & East Dart’s prices dropped from £410,000 to £365,000.

The ONS explained how the data is collected: “The house price statistics for small areas (HPSSAs) use data from HM Land Registry.

“This is to provide statistics on the price paid and the number of residential property transactions for properties sold in each area in England and Wales.

“Properties sold at a discount to the market level, such as properties sold under the Right to Buy scheme, are not included in these statistics.”

The ONS also analysed how many property sales were made in the area in the period, reporting 1,611 residential property sales in the South Hams in the year ending March 2022.

This is a decrease on March 2021’s total of 1,981, as well as from the results of the year ending December 2021, which showed 1,974 sales in that period.