House prices have dropped slightly in the Braintree district, latest figures show.
Property prices fell by 0.8 per cent in August, Land Registry figures show
But the drop does not reverse the longer-term trend, which has seen property prices in the area achieve seven per cent annual growth.
The average district house price in August was £303,843 – a 0.8 per cent decrease on July.
Over the month, the picture was worse than that across the East of England, where prices increased 2.9 per cent, in line with the UK.
Over the last year, the average sale price of property in Braintree rose by £20,000 – putting the area 43rd among the East of England’s 50 local authorities for annual growth.
Winners and Losers
Owners of flats fared worst in Braintree in August – they dropped 1.3% in price, to £167,652 on average. But over the last year, prices rose by 5.2 per cent.
Among other types of property:
Detached: down 0.3 per cent monthly, but up nine per cent annually to £515,966 on average.
Semi-detached: down 0.7 per cent monthly, but up 6.8 per cent annually to £313,401.
Terraced: down 1.2 per cent monthly, but up 5.5 per cent annually to £258,407.
First steps on the property ladder
First-time buyers in Braintree spent an average of £252,000 on their property – £16,000 more than a year ago, and £32,000 more than in August 2016.
How do property prices in Braintree compare?
Buyers paid 6.4 per cent less than the average price in the East of England (£325,000) in August for a property in the Braintree district.
Across the East of England, property prices are higher than those across the UK, where the average cost is £264,000.
The most expensive properties in the East of England were in St Albans – £588,000 on average compared to the cheapest in Great Yarmouth (£190,000 average), at the other end of the scale.
Factfile
Average property prices in August
Braintree: £303,843
East of England: £324,510
UK: £264,244
Annual growth to August
Braintree: +7%
East of England: +9.6%
UK: +10.6%
Best and worst annual growth in the East of England
Rochford: +17.1%
Epping Forest: +0.2%
Credit: Source link
