Dacorum house prices increased in May

Owners of detached houses saw the biggest improvement in property prices

Wednesday, 14th July 2021, 2:18 pm
Updated Wednesday, 14th July 2021, 2:20 pm

House prices increased by 1.5 per cent in Dacorum in May, new figures show.

The boost contributes to the longer-term trend, which has seen property prices in the area achieve 10.9 per cent annual growth.

The average Dacorum house price in May was £436,829, Land Registry figures show – a 1.5 per cent increase on April.

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Over the month, the picture was better than that across the East of England, where prices decreased 1 per cent, and Dacorum outperformed the 0.9 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 eighth among the East of England’s 50 local authorities for annual growth.

Winners and Losers

Owners of detached houses saw the biggest improvement in property prices in Dacorum in May – they increased 1.6 per cent, to £905,575 on average. Over the last year, prices rose by 11 per cent.

Among other types of property:

> Terraced: up 1.5 per cent monthly; up 12.1 per cent annually; £381,530 average

> Flats: up 1.3 per cent monthly; up 8 per cent annually; £270,319 average

First steps on the property ladder

First-time buyers in Dacorum spent an average of £345,000 on their property – £33,000 more than a year ago, and £43,000 more than in May 2016.

By comparison, former owner-occupiers paid £513,000 on average in May – 48.7 per cent more than first-time buyers.

How do property prices in Dacorum compare?

Buyers paid 40.8 per cent more than the average price in the East of England (£310,000) in May for a property in Dacorum. Across the East of England, property prices are high compared to those across the UK, where the average cost £255,000.

The most expensive properties in the East of England were in Three Rivers – £547,000 on average, and 1.3 times as much as in Dacorum. Three Rivers properties cost 2.8 times as much as homes in Great Yarmouth (£197,000 average), at the other end of the scale.

The highest property prices across the UK were in Kensington and Chelsea, where the average May sale price of £1.2 million could buy 12 properties in Burnley (average £100,000).

Factfile

Average property price in May:

- Dacorum: £436,829

- The East of England: £310,200

- UK: £254,624

Annual growth to May:

- Dacorum: +10.9 per cent

- The East of England: +6.9 per cent

- UK: +10 per cent.