Latest data shows house prices increased in Buckinghamshire

The trend of house prices going up in Bucks continues

Thursday, 21st October 2021, 10:31 am
Updated Thursday, 21st October 2021, 10:32 am

House prices increased by 1.8% in Buckinghamshire in August, new figures show.

The boost contributes to the longer-term trend, which has seen property prices in the area achieve 11.4% annual growth.

The average Buckinghamshire house price in August was £442,689, Land Registry figures show – a 1.8% increase on July.

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The trend of house prices increasing is continuing in Bucks

Over the month, the picture was similar to that across the South East, where prices increased 1.9%, and Buckinghamshire underperformed compared to the 2.9% rise for the UK as a whole.

Over the last year, the average sale price of property in Buckinghamshire rose by £45,000 – putting the area 24th among the South East’s 70 local authorities for annual growth.

The best annual growth in the region was in Rother, where property prices increased on average by 18.8%, to £348,000. At the other end of the scale, properties in Reigate and Banstead gained 0.3% in value, giving an average price of £414,000.

Winners and Losers

Owners of detached houses saw the biggest improvement in property prices in Buckinghamshire in August – they increased 2.4%, to £802,001 on average. Over the last year, prices rose by 13.3%.

Among other types of property:

Semi-detached: up 1.8% monthly; up 11.7% annually; £434,909 average

Terraced: up 1.3% monthly; up 10.3% annually; £342,062 average

Flats: up 1.2% monthly; up 8.4% annually; £236,640 average

First steps on the property ladder

First-time buyers in Buckinghamshire spent an average of £328,000 on their property – £31,000 more than a year ago, and £31,000 more than in August 2016.

By comparison, former owner-occupiers paid £527,000 on average in August – 60.7% more than first-time buyers.

How do property prices in Buckinghamshire compare?

Buyers paid 23.6% more than the average price in the South East (£358,000) in August for a property in Buckinghamshire. Across the South East, property prices are high compared to those across the UK, where the average cost £264,000.

The most expensive properties in the South East were in Elmbridge – £666,000 on average, and 1.5 times as much as in Buckinghamshire. Elmbridge properties cost three times as much as homes in Southampton (£221,000 average), at the other end of the scale.

The highest property prices across the UK were in Kensington and Chelsea.

Factfile

-Average property price in August

Buckinghamshire: £442,689

The South East: £358,070

UK: £264,244

-Annual growth to August

Buckinghamshire: +11.4%

The South East: +8.7%

UK: +10.6%

-Best and worst annual growth in the South East

Rother: +18.8%

Reigate and Banstead: +0.3%