Dacorum house prices increased more than East of England average in April
Owners of flats saw the biggest improvement in property prices in Dacorum
House prices increased by 1.4 per cent – more than the average for the East of England – in Dacorum in April, new figures show.
The boost contributes to the longer-term trend, which has seen property prices in the area achieve 7.9 per cent annual growth.
The average Dacorum house price in April was £432,507, Land Registry figures show – a 1.4 per cent increase on March.
Over the month, the picture was better than that across the East of England, where prices increased 0.3 per cent, and Dacorum outperformed the 1.9 per cent drop for the UK as a whole.
Over the last year, the average sale price of property in Dacorum rose by £32,000 – putting the area 28th among the East of England’s 50 local authorities for annual growth.
Winners and Losers
Owners of flats saw the biggest improvement in property prices in Dacorum in April – they increased 1.6 per cent, to £269,013 on average. Over the last year, prices rose by 5.5 per cent.
Among other types of property:
> Detached: up 0.8 per cent monthly; up 7.6 per cent annually; £893,981 average
> Semi-detached: up 1.5 per cent monthly; up 8.6 per cent annually; £493,900 average
> Terraced: up 1.5 per cent monthly; up 9 per cent annually; £377,973 average
First steps on the property ladder
First-time buyers in Dacorum spent an average of £343,000 on their property – £25,000 more than a year ago, and £44,000 more than in April 2016.
By comparison, former owner-occupiers paid £507,000 on average in April – 48 per cent more than first-time buyers.
How do property prices in Dacorum compare?
Buyers paid 37.8 per cent more than the average price in the East of England (£314,000) in April for a property in Dacorum. Across the East of England, property prices are high compared to those across the UK, where the average cost £251,000.
The most expensive properties in the East of England were in St Albans – £543,000 on average, and 1.3 times as much as in Dacorum. St Albans properties cost 2.9 times as much as homes in Great Yarmouth (£186,000 average), at the other end of the scale.
The highest property prices across the UK were in Kensington and Chelsea, where the average April sale price of £1.1 million could buy 11 properties in East Ayrshire (average £105,000).
Average property price in April
> Dacorum: £432,507
> The East of England: £313,964
> UK: £250,772
Annual growth to April
> Dacorum: +7.9 per cent
> The East of England: +8 per cent
> UK: +8.9 per cent.