HOUSE prices increased slightly in the Braintree district in September, new figures show.
The 0.5 per cent rise rise contributes to the longer-term trend, which has seen property prices in the area achieve 10.6 per cent annual growth.
The average Braintree house price in September was £314,309, Land Registry figures show.
Across the East of England prices increased 1.7 per cent, and Braintree underperformed compared to the 2.5 per cent rise for the UK.
Over the last year, the average sale price of property in Braintree rose by £30,000 – putting the area 11th among the East of England’s 50 local authorities for annual growth.
The best annual growth in the region was in Maldon, where property prices increased on average by 16.1 per cent, to £382,000.
Winners and Losers
Owners of detached houses saw the biggest improvement in property prices in Braintree in September – up 0.8 per cent to £533,403 on average. Over the last year, prices rose by 12.2 per cent.
Among other types of property
Semi-detached: up 0.4 per cent monthly and up 10.6 per cent annually to £324,509 on average.
Terraced: up 0.1 per cent monthly and up 9.4 per cent annually to £267,602.
Flats: up 0.4 per cent monthly and up 9.3 per cent annually to £172,928.
First steps on the property ladder
First-time buyers in Braintree spent an average of £261,000 on their property – £25,000 more than a year ago, and £44,000 more than in September 2016.
How do property prices in Braintree compare?
Buyers paid 4.2 per cent less than the average price in the East of England (£328,000) in September for a property in Braintree.
Across the East of England, property prices are higher than those across the UK, where the average cost £270,000.
The most expensive properties in the East of England were in St Albans – £569,000 on average and almost three times as much as homes in Great Yarmouth (£193,000 average) at the other end of the scale.
The highest property prices across the UK were in Kensington and Chelsea.
Factfile
Average property price in September
Braintree: £314,309
East of England: £327,982
UK: £269,945
Annual growth to September
Braintree: +10.6%
East of England: +9.3%
UK: +11.8%
Best and worst annual growth in the East of England
Maldon: +16.1%
East Cambridgeshire: +0.5%
Credit: Source link
