The housing market in and around Bordeaux continues to be characterised by above average increases in prices.
Located in the south-west of France, in the region of Nouvelle-Aquitaine, the department of Gironde has one of the most active housing markets in France, due principally to the growth of its capital city Bordeaux.
Nevertheless, as occurs elsewhere, it is a large department, with contrasting fortunes and prices.
According to the notaires, apartment prices in Bordeaux rose by an average of nearly +18% last year*, whilst in the wider Gironde department they rose on average by +10%.
The average price for an apartment in the city averaged €4,260m/2, within a range €3,080m/2 to €5,760m/2, as is shown on the table below. Prices in blue are for existing, older apartments; new apartments are in orange.
In the wider Bordeaux metropolitan area house prices average €320,000, a rise of +9% over the year, but with variations by district.
Thus, in the city houses average €438,500, whilst in the commune of Lormont, to the east, prices average €214,300.
In the year, prices fell in Lormont (-6%), Tresses (-5%) and Saint-Jean d'Illac (-2%), whilst there were large rises in Blanquefort (+17%), Léognan (+19%), and Artigue-prés-Bordeaux (+20%).
Average prices and price movements in the city and some of the surrounding districts are shown in the graphic below.
North of the metropole in the Medoc, along the left-bank of the River Gironde, an area famous for its wines, house prices are more moderate, averaging €190,000, but within a range, as can be seen from the graphic below.
At the bottom end, in Pauillac, houses average €125,000, whilst in Le Plan-Médoc, located nearer the city, the average price is €312,000.
The most expensive area outside of the city is in the Arcachon Basin, on the Atlantic coast, where over the last 3 years average house prices have increased by +23% and apartments by +9%. Prices for apartments remained stable last year at €3,980m/2, but average house prices rose nearly +10% to €335,600. In Arcachon itself, house prices average €545,000, up +14% over the year. In chic Lège-Cap-Ferret house prices average around €750,000.
The least expensive area to buy property is to the north of the city, in the canton of Nord-Gironde, bordering the departments of Charente Maritime and Dordogne, whose principal administrative centre is Saint-André-de-Cubzac. House prices in the area average €155,000, stable over the year.
In the canton of Sud-Gironde, house prices average €192,800, an increase of +5% over the year. La Brède and Langon, the largest two communes in the area, had contrasting fortunes, with prices in falling -7% in the former and increasing by +4% in the latter. Nevertheless, La Brède remained the most expensive area, with house prices averaging €288,000.
In the Entre-deux-Mers area, to the east of the city, the median price of old houses is €180,000, up nearly 4%, with the commune of La Réole recording the highest increase (+16%), although remaining the most affordable commune, with average prices of €110,000. Saint-Loubès, the most dynamic commune, recorded an increase of nearly +13%, to €227,000. In contrast prices fell in Monségur and Latresne by -9%.
The table below gives the average prices in the main communes of the area, which range from €110,000 in La Réole to €337,000 in Carignan-de-Bordeaux.
*To 31st Oct 2018
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