HOUSE prices increased more than average for the East of England in Tendring in August, new figures show.
The boost contributes to the longer-term trend, which has seen property prices in the area achieve 2.3 per cent annual growth.
The average Tendring house price in August was £223,354, Land Registry figures show – a 1 per cent increase on July.
Over the month, the picture was similar to that across the East of England, where prices increased 0.8 per cent, and Tendring outperformed the 0.7 per cent rise for the UK as a whole.
Over the last year, the average sale price of property in Tendring rose by £4,900 – putting the area 20th 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 per cent, to £269,000. At the other end of the scale, properties in Babergh dropped 4.1 per cent in value, giving an average price of £279,000.
Winners and Losers Owners of semi-detached houses saw the biggest improvement in property prices in Tendring in August – they increased 1.2 per cent, to £215,622 on average. Over the last year, prices rose by 3.2 per cent.
Among other types of property:
Detached: up 1 per cent monthly; up 2.4 per cent annually; £303,529 average Terraced: up 1 per cent monthly; up 2.4 per cent annually; £174,131 average Flats: up 0.3 per cent monthly; down 0.5 per cent annually; £124,344 average First steps on the property ladder First-time buyers in Tendring spent an average of £187,900 on their property – £3,600 more than a year ago, and £40,700 more than in August 2015.
By comparison, former owner-occupiers paid £244,000 on average in August – 29.9 per cent more than first-time buyers.
How do property prices in Tendring compare?
Buyers paid 24.6 per cent less than the average price in the East of England (£296,000) in August for a property in Tendring.
Across the East of England, property prices are lower than 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 2.3 times as much as in Tendring.
St Albans properties cost three times as much as homes in Great Yarmouth (£174,000 average), at the other end of the scale.
The highest property prices across the UK were in Kensington and Chelsea, where the average August sale price of £1.4 million could buy 15 properties in Burnley (average £91,000).
Factfile Average property price in August
Tendring: £223,354
The East of England: £296,411 UK: £239,196
Annual growth to August Tendring: +2.3%
The East of England: +2.0%
UK: +2.5%
Best and worst annual growth in the East of England
South Norfolk: +5.9%
Babergh: -4.1%
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