HOUSE prices increased more than average for the East of England in Maldon in June, new figures show.

The boost contributes to the longer-term trend, which has seen property prices in the area achieve 1.7 per cent annual growth.

The average Maldon house price in June was £343,748, Land Registry figures show – a 2.5 per cent increase on May.

Over the month, the picture was better than that across the East of England, where prices increased two per cent, and Maldon outperformed the 0.7 per cent rise for the UK as a whole.

Over the last year, the average sale price of property in Maldon rose by £5,900 – putting the area 21st among the East of England’s 45 local authorities for annual growth.

The best annual growth in the region was in Brentwood, where properties increased on average by 6.6 per cent, to £447,000. At the other end of the scale, properties in North Norfolk dropped 3.7 per cent in value, giving an average price of £245,000.

Winners and Losers

Owners of terraced houses saw the biggest improvement in property prices in Maldon in June – they increased 2.7%, to £236,464 on average. Over the last year, prices rose by 1.8%.

Among other types of property:

Detached: up 2.3 per cent monthly – up 2.1 per cent annually to a £496,887 average.

Semi-detached: up 2.6 per cent monthly – up two per cent annually to £310,900 on average.

Flats: up 2.2 per cent monthly – down 1.2 per cent annually to a £159,967 average.

First steps on the property ladder

First-time buyers in Maldon spent an average of £​262,700 on their property – ​£3,600 more than a year ago.

By comparison, former owner-occupiers paid £​389,600 on average in June​ – 48.3 per cent more than first-time buyers.

How do property prices in Maldon compare?

Buyers paid 16.2 per cent more than the average price in the East of England (£296,000) in June for a property in Maldon. Across the East of England, property prices are high compared to those across the UK, where the average cost £238,000.

The most expensive properties in the East of England were in St Albans – £520,000 on average, and 1.5 times as much as in Maldon. St Albans properties cost 3.1 times as much as homes in Great Yarmouth (£166,000 average), at the other end of the scale.

The highest property prices across the UK were in Kensington and Chelsea, where the average June sale price of £1.4 million could buy 15 properties in Burnley (average £92,000).

  • Factfile

Average property price in June

Maldon: £343,748

The East of England: £295,856

UK: £237,834

Annual growth to June

Maldon: +1.7%

The East of England: +2.6%

UK: +3.4%

Best and worst annual growth in the East of England

Brentwood: +6.6%

North Norfolk: -3.7%