Dacorum house prices increased in December

But, over the month, the picture was less good than that across the East of England
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House prices increased by 1.7% in Dacorum in December, new figures show.

The boost contributes to the longer-term trend, which has seen property prices in the area achieve 5.9% annual growth.

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The average Dacorum house price in December was £425,862, Land Registry figures show – a 1.7% increase on November.

Dacorum house prices increased in DecemberDacorum house prices increased in December
Dacorum house prices increased in December

Over the month, the picture was less good than that across the East of England, where prices increased 2.4%, but Dacorum outperformed the 1.2% rise for the UK as a whole.

Over the last year, the average sale price of property in Dacorum rose by £24,000 – putting the area 23rd among the East of England’s 50 local authorities for annual growth.

The best annual growth in the region was in Breckland, where property prices increased on average by 10.1%, to £246,000. At the other end of the scale, properties in Harlow lost 1.3% of their value, giving an average price of £271,000.

Winners and Losers

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Owners of terraced houses saw the biggest improvement in property prices in Dacorum in December – they increased 1.9%, to £370,117 on average. Over the last year, prices rose by 6.5%.

Among other types of property:

- Detached: up 1.5% monthly; up 7.8% annually; £887,614 average

- Semi-detached: up 1.5% monthly; up 6.6% annually; £485,302 average

- Flats: up 1.7% monthly; up 2.7% annually; £265,538 average

First steps on the property ladder

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First-time buyers in Dacorum spent an average of £336,000 on their property – £17,000 more than a year ago, and £41,000 more than in November 2015.

By comparison, former owner-occupiers paid £501,000 on average in December – 49.0% more than first-time buyers.

How do property prices in Dacorum compare?

Buyers paid 37% more than the average price in the East of England (£311,000) in December for a property in Dacorum. Across the East of England, property prices are high compared to those across the UK, where the average cost £252,000.

The most expensive properties in the East of England were in St Albans – £530,000 on average, and 1.2 times as much as in Dacorum.

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The highest property prices across the UK were in Kensington and Chelsea, where the average December sale price of £1.3 million could buy 13 properties in Burnley (average £98,000).

Factfile

Average property price in December:

> Dacorum: £425,862

> The East of England: £310,912

> UK: £251,500

Annual growth to December

> Dacorum: +5.9%

> The East of England: +7%

> UK: +8.5%.

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