MALDON has seen the biggest increase in house prices in the region, new figures reveal.

Property prices in the district rose by 1.5 per cent in September, taking annual growth to 16.1 per cent – the highest in the East of England.

The average Maldon house price in September was £381,633, Land Registry figures show.

The picture was similar to that across the East of England, where prices increased 1.7 per cent, compared to the 2.5 per cent rise for the UK.

Over the last year, the average sale price of property in Maldon rose by £53,000 – putting the area top among the East of England’s 50 local authorities for annual growth.

Winners and Losers

Owners of detached houses saw the biggest improvement in property prices in Maldon in September. They increased 1.7 per cent to £558,064 on average. Over the last year, prices rose by 17.1 per cent.

Among other types of property

Semi-detached: up 1.6 per cent monthly and up 16.7 per cent annually to £346,234 on average.

Terraced: up 1.1 per cent monthly and up 15 per cent annually to £259,627.

Flats: up 0.8 per cent monthly and up 10.5 per cent annually to £168,197.

First steps on the property ladder

First-time buyers in Maldon spent an average of £290,000 on their property – £40,000 more than a year ago, and £54,000 more than in September 2016.

How do property prices in Maldon compare?

Buyers paid 16.4 per cent more than the average price of £328,000 in the East of England in September for a property in Maldon.

Across the East of England, property prices are high compared to those across the UK, where the average cost £270,000.

The most expensive properties in the East of England were in St Albans – £569,000 on average, and almost three times as much as homes in Great Yarmouth (£193,000 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 September

Maldon: £381,633

East of England: £327,982

UK: £269,945

Annual growth to September

Maldon: +16.1%

East of England: +9.3%

UK: +11.8%

Best and worst annual growth in the East of England

Maldon: +16.1%

East Cambridgeshire: +0.5%