Market outlook for SO31
Key indicators for buyers
The SO31 market is moderately favourable for buyers. Prices have softened (-14.3%), which could present a buying opportunity. Affordability has improved from a peak of 10.8x in 2021 to 8.6x today. Rising rents (£1,198/mo, +4.1%) mean the cost of waiting is real.
Price trends
Yearly averages · HM Land Registry Price Paid Data
Prices by property type
2026averages · HM Land Registry Price Paid Data
Affordability ratio
House price ÷ median earnings · ONS data
Affordability data shown for wider Fareham area
A home in Fareham costs 8.6x the local median salary — stretched, improving from a peak of 10.8x in 2021.
Rental trends
Average monthly rent · ONS Private Rental Index
Rental data shown for wider Fareham area
Average monthly rent in Fareham is £1,198, up 4.1% year-on-year. Rents have risen consistently over the past five years.
Monthly mortgage
2yr fixed · 75% LTV · 25yr term · BoE avg. rate
Based on the average Fareham price of £363,269 with a 25% deposit (£91k), a 2-year fixed mortgage at 3.97% costs around £1,434 per month.
Rent vs buy snapshot
Monthly cost comparison based on current data
Uses SO31 avg. price with Fareham rental data
Monthly mortgage payments (£1,434) are £236 more than renting (£1,198). However, buying requires an upfront deposit of £91k — it would take around 12 years to recoup that cost compared to renting and investing the difference.
Recent sales
Latest transactions · HM Land Registry Price Paid Data
| Address | Type | Price | Date |
|---|---|---|---|
34, SUNNYFIELD RISE, BURSLEDON SO31 8FA | Terraced | £325,000 | 26 Jan 2026 |
92, CLEVERLEY RISE, BURSLEDON SO31 8LN | Detached | £763,035 | 23 Jan 2026 |
49, REEVES WAY, BURSLEDON SO31 8FU | Semi-detached | £280,000 | 19 Jan 2026 |
8, CORNFLOWER CLOSE, LOCKS HEATH SO31 6SN | Terraced | £320,000 | 16 Jan 2026 |
4, CAVENDISH DRIVE, LOCKS HEATH SO31 6BP | Semi-detached | £350,000 | 16 Jan 2026 |
87, SPITFIRE WAY, HAMBLE SO31 4RT | Terraced | £382,000 | 15 Jan 2026 |
2, WAYSIDE, LOWER SWANWICK SO31 7JS |
Data sources (all free & public): HM Land Registry Price Paid Data & UK House Price Index · ONS Housing Affordability Ratios · ONS Private Rental Index · Bank of England Quoted Household Interest Rates · HMRC Monthly Property Transactions
Contains HM Land Registry data © Crown copyright and database right 2021. This data is licensed under the Open Government Licence v3.0.