House prices dropped more than average for the South East in Bracknell Forest in December, new figures show.
The drop contributes to the longer-term trend, which has seen property prices in the area suffer a 1.0 per cent annual decline.
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The average Bracknell Forest house price in December was £335,329, Land Registry figures show – a 0.6 per cent decrease on November.
Over the month, the picture was similar to that across the South East, where prices decreased 0.3 per cent, and Bracknell Forest underperformed compared to the 0.3 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 53rd among the South East’s 67 local authorities for annual growth.
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The best annual growth in the region was in Sevenoaks, where properties increased on average by 7.5 per cent, to £450,000. At the other end of the scale, properties in Tandridge dropped 8.1% in value, giving an average price of £426,000.
Winners and Losers
Owners of terraced houses fared worst in Bracknell Forest in December – they dropped 0.8% in price, to £284,145 on average. Over the last year, prices dropped by 1.1 per cent.
Among other types of property:
Detached: down 0.3 per cent monthly; down 0.3 per cent annually; £617,219 average
Semi-detached: down 0.4 per cent monthly; down 0.1 per cent annually; £371,993 average
Flats: down 0.7 per cent monthly; down 2.3 per cent annually; £207,174 average
First steps on the property ladder
First-time buyers in Bracknell Forest spent an average of £273,200 on their property – £3,500 less than a year ago, and £40,700 more than in December 2014.
By comparison, former owner-occupiers paid £390,700 on average in December – 43.0 per cent more than first-time buyers.
How do property prices in Bracknell Forest compare?
Buyers paid 3.2 per cent more than the average price in the South East (£325,000) in December for a property in Bracknell Forest. Across the South East, property prices are high compared to those across the UK, where the average cost £235,000.
The most expensive properties in the South East were in South Bucks – £613,000 on average, and 1.8 times as much as in Bracknell Forest. South Bucks properties cost 2.9 times as much as homes in Southampton (£209,000 average), at the other end of the scale.
The highest property prices across the UK were in Kensington and Chelsea, where the average December sale price of £1.3 million could buy 14 properties in Burnley (average £92,000).
Factfile
Average property price in December
Bracknell Forest: £335,329
The South East: £325,050
UK: £234,742
Annual growth to December
Bracknell Forest: -1.0 per cent
The South East: +1.2 per cent
UK: +2.2 per cent
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