Local market report and housing update
Winter 2022/23
Snapshot & Location
Located in the north-east of Wiltshire, the picturesque market town of Marlborough is conveniently positioned between London and Bath on the Great West Way. With the countryside within a 10-minute walk of the High Street in any direction and the River Kennet flowing through the town, Marlborough offers a cosmopolitan destination in a rural setting.
Location Map
Local demographics & economic trends
The population of Marlborough (encompassing the town and local area; see below for methodology) is currently estimated to be 30,599. Compared to population at the point of the 2011 census, this represents a moderate increase of 5.4%, or 1,576 people. When compared to 2001, this is an even greater increase of 11.2%. The population is expected to see a slight increase of 3.6% in the next ten years, equating to over 1,000 additional people.
This population forms an estimated 12,918 households. As such, the average household size is 2.4. The number of households is forecast to grow by 6.3% in the next ten years, or by about 800 households. The majority of households in Marlborough own their home, amounting to 63.7% of the total number.
Connectivity
Marlborough offers a well-connected place to live. It is located on the new Great West Way, a 125-mile touring route between London and Bristol encompassing the Kennet and Avon Canal, the Great Western Railway and the A4. It is also located on the A346 between Swindon and Tidworth and on the A345 from Swindon. By road, both Bath and Bristol are approximately an hour away.
The local Housing Market
Sales Market
Average house prices by property type and location
Marlborough (SN8)
Wiltshire
England and Wales
Detached
Semi-detached
Terraced
Flat
Overall Average
£766,743
£480,004
£402,882
£312,750
£587,907
£545,779
£343,102
£273,120
£165,820
£350,570
£488,076
£298,211
£253,644
£253,542
£311,074
Source: HM Land Registry (October 2022, latest data)
"Over the last year, prices in Marlborough have risen by a robust 19%, compared with 13% inflation across both Wiltshire and England and Wales"
Chart
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Rental Market
The Office for National Statistics (ONS) private rental market rates data reports that average rents in Wiltshire are circa £881 per calendar month (pcm) as at Q1 2022. However, being that this figure is for the whole of the Wiltshire Unitary Authority, looking at asking rents for the more localised area from REalyse will give a clearer picture for Marlborough itself. Latest data from REalyse shows that rents in and around Marlborough are considerably higher than that for the wider Wiltshire UA, at £1,229 pcm. This premium for the area reflects its popularity with tenants and coupled with a lack of available stock this had lead to strong upward pressure on rents. Rents have increased by an average of 19% over just the last 12 months alone, and 24% growth over the last two years. This rental growth has pushed out gross yields over the last year as well, moving from around 3.0% last year to 3.4% currently.
Marlborough
It is set within the chalk hills of the North Wessex Downs Area of Outstanding Natural Beauty, encompassing much of the countryside around the town. Savernake Forest is located to the southeast and Avebury World Heritage site, encompassing Stonehenge, is also nearby.
Marlborough is an affluent area denoted by its rich cultural heritage. Its historic charm is defined by its ancient alleyways, arcades, coaching inns and high-timbered cottages.
The High Street (one of the widest in the UK) offers an excellent shopping location with a diverse mix of independent shops, major retailers and dining locations. It is home to one of the most prestigious of English co-educational private boarding schools, Marlborough College. Other schools in the area have been rated as good or outstanding by Ofsted.
17.2% reside in social rented accommodation and 15.8% rent privately. These figures are forecasted to shift slightly in the next five years, with a slightly lower percentage of homeowners (61.8%) and a higher proportion of private renters (17.9%). The percentage of those in social rented accommodation is expected to stay the same.
The area attracts a range of ages looking for abundant green and open spaces whilst enjoying the offerings of an urban location. The median age of the population in Marlborough is 48 years, compared to 40 years nationally. A high percentage of the population is aged over 60, with almost 20% aged between 60 and 74 and 12% aged 75 and over. Across England and Wales, the total proportion of the population aged between 60 and 74 is 15.7% and those over 75 make up 8.6% of the total population, notably lower than in Marlborough. Many of these people have accomplished professional careers or have now retired.
There is also a sizeable number of children, with those aged 0-17 accounting for 20.6% of the population, suggesting that the local demographic also includes numerous families. Yet, this number is somewhat lower than other nearby urban locations, such as Swindon and Bath.
Location based on nearby top-performing primary and secondary schools is often a very strong factor in deciding where to move and locate, with proximity to the best schools strongly correlated to local average house prices. Research has shown that homes located near top-performing schools can add anywhere from £20,000 - £50,000 to home values.
The affluent and highly sought-after nature of the Marlborough area is reflected in average house price data. With an average price of £587,907 this is 68% higher than the surrounding Wiltshire average. This premium is reflected across all property types ranging from a 40% premium in detached and semi-detached homes to a strong 89% premium for flats.
The Local Housing Market
Average house price
Average house price growth
Average rent
(£ per calendar month)
Annual rental growth
Gross Yield
£587,907
19%
19%
£1,229
3.4%
Sources: HM Land Registry (SN8 postcode district, Q3 2022, latest data), REalyse
Sources used: Carter Jonas Research, Experian, Google maps, HM Land Registry, Office for National Statistics, REalyse, Rightmove
Note: REalyse rental data 12-month rolling average
Get in touch
Email me
01672 340 081
Sales
Fred Ponsonby
Email me
01672 514916
Lettings
Thomas Smithdale
For further information, please get in touch with one of our local experts
It does not have direct rail access but is served by stations at Pewsey (6.7 miles), Bedwyn (6.9 miles), and Swindon (12.7 miles). All three stations offer rail connections to London which take roughly an hour.
Over the last year, prices in Marlborough have risen by a robust 19%, compared with 13% inflation across both Wiltshire and England and Wales. Again, this reflects the strong level of demand for homes in Marlborough but also the lack of available supply in the area. Together this has placed strong upward pressure on prices.
Looking ahead, it is expected that transaction volumes will begin to fall to below-average levels. This is due to the rate at which the interest rates and mortgage rates have been rising together with general economic uncertainty which is leading to declining consumer confidence not just in the housing market but across the wider economy more generally. While demand declines and exchanges reduce, house prices are also expected to decline, with anticipated falls of around 4% - 6% per annum over the next two years in Wiltshire.
Notes: Average house prices: SN8 postcode district. Rental rates areas: five-mile
radius from centre. Projected house price growth, incomes and demographics
data, areas: Respective local authority
2032 forecast
population
(number)
534,697
Ten-year forecast population
(% change)
4%
Proportion of population who are owner occupiers
66%
Proportion of
population who are private renters
19%
Average annual
income
(2022, provisional)
£38,541
Five-year projected house price growth (cumulative)
0.4%
Local market report and housing update
Winter 2022/23