Dacorum house prices increased more than East of England average

House prices increased by 1.4% – more than the average for the East of England – in Dacorum according to latest figures released this week.

The boost contributes to the longer-term trend, which has seen property prices in the area achieve 9% annual growth.

The average Dacorum house price in July was £473,516, Land Registry figures show –a 1.4% increase on June.

The picture was similar to that across the East of England, where prices increased 1.2%, but Dacorum underperformed compared to the 2% rise for the UK as a whole.

Across the UK, the the average UK house price leapt by 15.5% in the year to July, marking the biggest increase in 19 years.

But the increase in annual inflation was mainly because of “a base effect” from the falls in prices seen this time last year, as a result of changes in the stamp duty holiday, the ONS said.

Over the last year, the average sale price of property in Dacorum rose by £39,000 – putting the area 41st among the East of England’s 45 local authorities with price data for annual growth.

The best annual growth in the region was in Great Yarmouth, where property prices increased on average by 22.5%, to £228,000. At the other end of the scale, properties in Hertsmere gained just 6.8% in value, giving an average price of £534,000.

Winners and losers

Owners of semi-detached houses saw the biggest improvement in property prices in Dacorum in July – they increased 1.6%, to £547,468 on average. Over the last year, prices rose by 10.6%.

Other types of property

Detached: up 1.3% monthly; up 10.2% annually; £1,002,538 average

Terraced: up 1.5% monthly; up 9.2% annually; £413,147 average

Flats: up 1.2% monthly; up 5.3% annually; £282,326 average

First steps on the property ladder

First-time buyers in Dacorum spent an average of £372,000 on their property – £29,000 more than a year ago, and £49,000 more than in July 2017.

By comparison, former owner-occupiers paid £560,000 on average in July – 50.7% more than first-time buyers.

How do property prices in Dacorum compare?

Buyers paid 32.1% more than the average price in the East of England (£358,000) 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 £292,000.

The most expensive properties in the East of England were in Three Rivers – £609,000 on average, and 1.3 times as much as more than in Dacorum. Three Rivers properties cost 2.7 times as much as homes in Great Yarmouth (£228,000 average), at the other end of the scale.

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