Dacorum house prices increased slightly in November

House prices increased slightly, by 0.2%, in Dacorum in November, new figures show.

The rise contributes to the longer-term trend, which has seen property prices in the area grow by 9.1% over the last year.

The average Dacorum house price in November was £486,209, Land Registry figures show – a 0.2% increase on October. Over the month, the picture was similar to that across the East of England, where prices increased 0.6%, and Dacorum was above the 0.3% drop for the UK as a whole.

Over the last year, the average sale price of property in Dacorum rose by £41,000 – putting the area 32nd among the East of England’s 45 local authorities with price data for annual growth.

The highest annual growth in the region was in Cambridge, where property prices increased on average by 16.2%, to £544,000. At the other end of the scale, properties in Hertsmere gained 3% in value, giving an average price of £537,000.

The average UK house price edged down to £295,000 in November 2022, from the previous month's record high of £296,000. Property prices increased by 10.3% in the year to November, slowing from 12.4% in October.

Nathan Emerson, CEO of Propertymark, which represents estate agents, said: "In November, our agents reported a market that was on the cusp of seeing purchasing power handed back to buyers which was a trend we hadn’t seen in months."

And Roger Evans, director of home finance distribution at Gatehouse Bank, said: “The property market is slowly becoming more favourable for buyers in some areas as rates stabilise a little following the turbulence of 2022.”

First steps on the property ladder

First-time buyers in Dacorum spent an average of £381,000 on their property – £32,000 more than a year ago, and £60,000 more than in November 2017.

By comparison, former owner-occupiers paid £575,000 on average in November – 50.8% more than first-time buyers.

Owners of flats saw the biggest rise in property prices in Dacorum in November – they increased 0.3%, to £286,393 on average. Over the last year, prices rose by 6.3%.

Detached: up 0.1% monthly; up 8.3% annually; £1,030,195 average

Semi-detached: up 0.3% monthly; up 10.3% annually; £564,323 average

Terraced: up 0.2% monthly; up 10.3% annually; £425,677 average

How do property prices in Dacorum compare?

Buyers paid 33.2% more than the average price in the East of England (£365,000) in November for a property in Dacorum. Across the East of England, property prices are high compared to those across the UK, where the average cost £295,000.

The most expensive properties in the East of England were in St Albans – £620,000 on average, and 1.3 times as much as more than in Dacorum. St Albans properties cost 2.7 times as much as homes in Great Yarmouth (£231,000 average), at the other end of the scale.

The highest property prices across the UK were in Kensington and Chelsea.

Average property price in November

Dacorum: £486,209

The East of England: £365,144UK: £294,910

Annual growth to November

Dacorum: +9.1%

The East of England: +10.2%UK: +10.3%

Highest and lowest annual growth in the East of England

Cambridge: +16.2%

Hertsmere: +3%