HOUSE prices dropped more than average in Bracknell Forest for the South East in July, new figures show.
The drop contributes to the longer-term trend, which has seen property prices in the area suffer a 6.5 per cent annual decline .
The average Bracknell Forest house price in July was £328,025, Land Registry figures show – a 3.5 per cent decrease on June.
Over the month, the picture was worse than that across the South East, where prices decreased 0.7 per cent, and Bracknell Forest underperformed compared to the 0.5 per cent rise for the UK as a whole.
Over the last year, the average sale price of property in Bracknell Forest remained level – putting the area 65th among the South East’s 67 local authorities for annual growth.
The best annual growth in the region was in Dartford, where properties increased on average by 5 per cent, to £306,000.
At the other end of the scale, properties in Basingstoke and Deane dropped 7.3 per cent in value, giving an average price of £283,000.
Winners and Losers
Owners of semi-detached houses fared worst in Bracknell Forest in July – they dropped 3.7 per cent in price, to £361,619 on average . Over the last year, prices dropped by 6.1 per cent.
Among other types of property:
Detached: down 3.6 per cent monthly; down 6.3 per cent annually; £599,154 average
Terraced: down 3.5 per cent monthly; down 6.3 per cent annually; £279,213 average
Flats: down 3.5 per cent monthly; down 7.2 per cent annually; £203,957 average
First steps on the property ladder
First-time buyers in Bracknell Forest spent an average of £ 268,000 on their property – £19,000 less than a year ago, and £43,000 more than in Jul-14.
By comparison, former owner-occupiers paid £ 381,000 on average in July – 42.3 per cent more than first-time buyers.
How do property prices in Bracknell Forest compare?
Buyers paid 2.4 per cent more than the average price in the South East (£320,000) in July for a property in Bracknell Forest. Across the South East, property prices are high compared to those across the UK, where the average cost £233,000.
The most expensive properties in the South East were in Elmbridge – £588,000 on average, and 1.8 times as much as in Bracknell Forest. Elmbridge properties cost 2.9 times as much as homes in Southampton (£203,000 average), at the other end of the scale.
The highest property prices across the UK were in Kensington and Chelsea, where the average July sale price of £1.3 million could buy 15 properties in Burnley (average £84,000).
Factfile
Average property price in July:
Bracknell Forest: £328,025
The South East: £320,454
UK: £232,710
Annual growth to July
Bracknell Forest: -6.5 per cent
The South East: -2.0 per cent
UK: +0.7 per cent
Best and worst annual growth in the South East
Dartford: +5.0 per cent
Basingstoke and Deane: -7.3 per cent
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