Dacorum house prices increased in June

House prices increased by 2.1 per cent in Dacorum in June, new figures show.

The boost contributes to the longer-term trend, which has seen property prices in the area achieve 10.7 per cent annual growth.

The average Dacorum house price in June was £441,317, Land Registry figures show – a 2.1 per cent increase on May.

But, over the month, the picture was less good than that across the East of England, where prices increased by 4.5 per cent, and Dacorum underperformed compared to the 4.5 per cent rise for the UK as a whole.

Over the last year, the average sale price of property in Dacorum rose by £43,000 – putting the area 13th among the East of England’s 50 local authorities for annual growth.

Winners and Losers

Owners of semi-detached houses saw the biggest improvement in property prices in Dacorum in June – they increased 2.2 per cent, to £504,282 on average. Over the last year, prices rose by 11.3 per cent.

Among other types of property:

> Detached: up 2.1 per cent monthly; up 11.5 per cent annually; £918,856 average

> Terraced: up 2.1 per cent monthly; up 11.2 per cent annually; £384,030 average

> Flats: up 2.2 per cent monthly; up 8.3 per cent annually; £273,728 average

First steps on the property ladder

First-time buyers in Dacorum spent an average of £348,000 on their property – £32,000 more than a year ago, and £43,000 more than in June 2016.

By comparison, former owner-occupiers paid £519,000 on average in June – 48.9 per cent more than first-time buyers.

How do property prices in Dacorum compare?

Buyers paid 35 per cent more than the average price in the East of England (£327,000) in June for a property in Dacorum. Across the East of England, property prices are high compared to those across the UK, where the average cost £266,000.

The most expensive properties in the East of England were in St Albans – £550,000 on average, and 1.2 times as much as in Dacorum. St Albans properties cost 2.8 times as much as homes in Great Yarmouth (£199,000 average), at the other end of the scale.

The highest property prices across the UK were in Kensington and Chelsea, where the average June sale price of £1.2 million could buy 13 properties in Burnley (average £99,000).

Factfile

Average property price in June

> Dacorum: £441,317

> The East of England: £327,017

> UK: £265,668

Annual growth to June

> Dacorum: +10.7 per cent

> The East of England: +12.1 per cent

> UK: +13.2 per cent.