Dacorum house prices increased slightly in July
Owners of detached houses saw the biggest improvement in property prices
House prices increased slightly, by 0.5 per cent, in Dacorum in July, new figures show.
The boost contributes to the longer-term trend, which has seen property prices in the area achieve 10 per cent annual growth.
The average Dacorum house price in July was £441,200, Land Registry figures show – a 0.5 per cent increase on June.
Over the month, the picture was better than that across the East of England, where prices decreased 3.8 per cent, and Dacorum outperformed the 3.7 per cent drop for the UK as a whole.
Over the last year, the average sale price of property in Dacorum rose by £40,000 – putting the area 15th among the East of England’s 50 local authorities for annual growth.
The best annual growth in the region was in North Norfolk, where property prices increased on average by 15.5 per cent, to £284,000. At the other end of the scale, properties in Norwich gained 1.3 per cent in value, giving an average price of £210,000.
Winners and Losers
Owners of detached houses saw the biggest improvement in property prices in Dacorum in July – they increased 0.8 per cent, to £921,676 on average. Over the last year, prices rose by 11.8 per cent.
Among other types of property:
> Semi-detached: up 0.7 per cent monthly; up 10.8 per cent annually; £505,544 average
> Terraced: up 0.1 per cent monthly; up 10.3 per cent annually; £382,959 average
> Flats: up 0.5 per cent monthly; up 6.8 per cent annually; £272,963 average
First steps on the property ladder
First-time buyers in Dacorum spent an average of £348,000 on their property – £29,000 more than a year ago, and £36,000 more than in July 2016.
By comparison, former owner-occupiers paid £520,000 on average in July – 49.5 per cent more than first-time buyers.
How do property prices in Dacorum compare?
Buyers paid 41.4 per cent more than the average price in the East of England (£312,000) in July for a property in Dacorum. Across the East of England, property prices are high compared to those across the UK, where the average cost £256,000.
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 2.9 times as much as homes in Great Yarmouth (£192,000 average), at the other end of the scale.
The highest property prices across the UK were in Kensington and Chelsea, where the average July sale price of £1.3 million could buy 13 properties in Burnley (average £101,000).
Average property price in July
> Dacorum: £441,200
> The East of England: £312,076
> UK: £255,535
Annual growth to July
> Dacorum: +10 per cent
> The East of England: +6.8 per cent
> UK: +8 per cent.