Dacorum house prices dropped slightly in November

The picture was similar to that across the East of England

Thursday, 21st January 2021, 11:14 am
Updated Thursday, 21st January 2021, 11:20 am

House prices dropped slightly, by 0.1%, in Dacorum in November, new figures show.

But the drop does not reverse the longer-term trend, which has seen property prices in the area achieve 2.7% annual growth.

The average Dacorum house price in November was £415,315, Land Registry figures show – a 0.1% decrease on October.

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Over the month, the picture was similar to that across the East of England, where prices decreased 0.3%, but Dacorum underperformed compared to the 1.2% rise for the UK as a whole.

Over the last year, the average sale price of property in Dacorum rose by £11,000 – putting the area 36th among the East of England’s 50 local authorities for annual growth.

The best annual growth in the region was in East Suffolk, where property prices increased on average by 11.1%, to £271,000. At the other end of the scale, properties in Broxbourne lost 0.7% of their value, giving an average price of £347,000.

Owners of flats fared worst in Dacorum in November – they dropped 0.3% in price, to £258,084 on average. Over the last year, prices dropped by 0.8%.

Among other types of property:

Detached: remained level over the month; up 4.9% annually; £868,262 average

Semi-detached: remained level over the month; up 3.9% annually; £474,991 average

Terraced: remained level over the month; up 3.1% annually; £360,378 average

First-time buyers in Dacorum spent an average of £327,400 on their property – £6,900 more than a year ago, and £38,500 more than in October 2015.

By comparison, former owner-occupiers paid £489,000 on average in November – 49.3% more than first-time buyers.

How do property prices in Dacorum compare?

Buyers paid 37.2% more than the average price in the East of England (£303,000) in November for a property in Dacorum. Across the East of England, property prices are high compared to those across the UK, where the average cost £250,000.

The most expensive properties in the East of England were in St Albans – £533,000 on average, and 1.3 times as much as in Dacorum.

The highest property prices across the UK were in Kensington and Chelsea, where the average November sale price of £1.5 million could buy 16 properties in Blaenau Gwent (average £95,000).

Factfile

Average property price in November:

- Dacorum: £415,315

- The East of England: £302,624

- UK: £249,633

Annual growth to November:

- Dacorum: +2.7%

- The East of England: +4.8%

- UK: +7.6%.