Dacorum house prices have increased slightly according to new figures​​​​​​​

House prices in Dacorum increased slightly, by 0.5%, according to latest figures published today.

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 February was £487,122, Land Registry figures show – a 0.5% increase on January.

Over the month, the picture was better than that across the East of England, where prices decreased 0.1%, and Dacorum outperformed the 1% 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 12th among the East of England’s 45 local authorities with price data for annual growth.

The best annual growth in the region was in Rochford, where property prices increased on average by 14.1%, to £440,000. At the other end of the scale, properties in North Norfolk gained just 0.1% in value, giving an average price of £321,000.

Winners and Losers

Owners of detached houses saw the biggest improvement in property prices in Dacorum in February – they increased 0.9%, to £1,037,028 on average. Over the last year, prices rose by 9.1%.

Among other types of property

Semi-detached: up 0.5% monthly; up 9.4% annually; £564,102 average

Terraced: up 0.2% monthly; up 9.2% annually; £423,947 average

Flats: up 0.6% monthly; up 7.6% annually; £289,177 average

First steps on the property ladder

First-time buyers in Dacorum spent an average of £382,000 on their property – £31,000 more than a year ago, and £64,000 more than in February 2018.

By comparison, former owner-occupiers paid £576,000 on average in February – 50.9% more than first-time buyers.

How do property prices in Dacorum compare?

Buyers paid 36.2% more than the average price in the East of England (£358,000) in February for a property in Dacorum. Across the East of England, property prices are high compared to those across the UK, where the average cost £288,000.

The most expensive properties in the East of England were in St Albans – £612,000 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 (£225,000 average), at the other end of the scale.