Here's how Dacorum house prices held up during August

Owners of detached houses saw the biggest improvement in property prices

Wednesday, 21st October 2020, 1:28 pm
Updated Wednesday, 21st October 2020, 1:32 pm

House prices increased more than average for the East of England in Dacorum in August, new figures show.

​The ​boost ​contributes to the longer-term trend, which has seen property prices in the area ​achieve 3.4% annual growth​.

The average Dacorum house price in August was £411,303, Land Registry figures show​ – a 2.1% increase on July.

Here's how Dacorum house prices held up during August

Over the month, the picture was ​better than that across the East of England, where prices ​increased 0.8%​, and Dacorum outperformed the 0.7% rise for the UK as a whole.

Over the last year, the average sale price of property in Dacorum ​​rose by £13,000 – putting the ​area 10th among the East of England’s 47 local authorities for annual growth.

​The best annual growth in the region was in South Norfolk, where properties increased on average by 5.9%, to £269,000. ​At the other end of the scale, properties in Babergh dropped 4.1% in value, giving an average price of £279,000.

Owners of detached houses saw the biggest improvement in property prices in Dacorum in August – they increased 2.4%, to £851,514 on average. Over the last year, prices rose by 5%.

Terraced house prices were up 2.2% monthly; up 3.5% annually; £356,462 average, and flat prices were up 1.4% monthly; up 0.4% annually; £257,728 average.

First-time buyers in Dacorum spent an average of £​325,200 on their property – ​£9,200 more than a year ago, ​and ​£52,100 more than in August 2015.

By comparison, former owner-occupiers paid £​482,900 on average in August​ – 48.5% more than first-time buyers.

Buyers paid 38.8% more than the average price in the East of England (£296,000) in August for a property in Dacorum. Across the East of England, property prices are high compared to those across the UK, where the average cost £239,000.

​The most expensive properties in the East of England were in St Albans – £522,000 on average, and 1.3 times as much as in Dacorum.

Factfile

Average property price in August

- Dacorum: £411,303

- The East of England: £296,411

- UK: £239,196

Annual growth to August

- Dacorum: +3.4%

- The East of England: +2.0%

- UK: +2.5%.