Aylesbury Vale house prices dropped slightly in February

The latest availiable data shows that house prices have gone down during the Coronavrus pandemic.

Friday, 22nd May 2020, 9:55 am
Updated Friday, 22nd May 2020, 10:00 am

The ​drop ​contributes to the longer-term trend, which has seen property prices in the area ​suffer a 2.2% annual decline​.

The average Aylesbury Vale house price in February was £318,168.99, Land Registry figures show​ – a 0.4% decrease on January.

Over the month, the picture was ​similar to that across the South East, where prices ​decreased 0.4%​, and Aylesbury Vale outperformed the 0.62% drop for the UK as a whole.

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House prices have dipped since February

Over the last year, the average sale price of property in Aylesbury Vale ​​remained level – putting the ​area 56th among the South East’s 67 local authorities for annual growth.

​The best annual growth in the region was in East Hampshire, where properties increased on average by 4.75%, to £376,000. ​At the other end of the scale, properties in Lewes dropped 4.1% in value, giving an average price of £318,000.

Winners and Losers:

Owners of semi-detached houses fared worst in Aylesbury Vale in February – they dropped 0.5% in price, to £323,648.37 on average​. Over the last year, prices dropped by 1.8%.

Among other types of property:

Detached: down 0.4% monthly; down 2.4% annually; £535,793.44 average

Terraced: down 0.3% monthly; down 1.4% annually; £264,904.32 average

Flats: down 0.1% monthly; down 4.0% annually; £179,045.78 average

First steps on the property ladder

First-time buyers in Aylesbury Vale spent an average of £​254,000 on their property – ​£6,400 less than a year ago, ​and ​£42,300 more than in February 2015.

By comparison, former owner-occupiers paid £​367,000 on average in February​ – 44.5% more than first-time buyers.

How do property prices in Aylesbury Vale compare?

Buyers paid 1.0% less than the average price in the South East (£321,000) in February for a property in Aylesbury Vale. Across the South East, property prices are high compared to those across the UK, where the average cost £230,000.

The most expensive properties in the South East were in Elmbridge – £594,000 on average, and 1.9 times as much as in Aylesbury Vale. 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 February sale price of £1.3 million could buy 15 properties in Burnley (average £85,000).

Factfile

Average property price in February

Aylesbury Vale: £318,168.99

The South East: £321,329.36

UK: £230,331.55

Annual growth to February

Aylesbury Vale: -2.2%

The South East: +0.4%

UK: +1.1%

Best and worst annual growth in the South East

East Hampshire: +4.8%

Lewes: -4.1%