House prices rise 1.6% in Maldon in July

The boost contributes to the longer-term trend, which has seen property prices in the district achieve 11.5 per cent annual growth.

The average Maldon house price in July was £408,303, Land Registry figures show.

Over the month, the picture was similar to that across the East of England, where prices increased 1.2 per cent, but less than the average two per cent rise in the UK.

Across the UK, the the average house price leapt by 15.5 per cent in the year to July, marking the biggest increase in 19 years.

Over the last year, the average sale price of property in Maldon rose by £42,000 – putting the area 28th among the East of England’s 45 local authorities.

Owners of semi-detached houses saw the biggest improvement in property prices in Maldon in July – up 1.9 per cent, to £370,494 on average. Over the last year, prices rose by 12.2 per cent.

Detached homes were up 1.4 per cent monthly and up 12.6 per cent annually to £599,641 on average.

Terraced homes were up 1.6 per cent monthly and 10.1 per cent annually to £277,747, while flats were up 1.5 per cent monthly and 5.3 per cent annually to £174,460.

First-time buyers in Maldon spent an average of £310,000 on their property – £31,000 more than a year ago, and £61,000 more than in July 2017.

Buyers paid 13.9 per cent more than the average price in the East of England (£358,000) in July for a property in Maldon.

Across the East of England, property prices are higher than those across the UK, where the average cost £292,000.

Factfile

Average property price in July

Maldon: £408,303

East of England: £358,413 UK: £292,118

Annual growth to July Maldon: +11.5%

East of England: +16% UK: +15.5%

Best and worst annual growth in the East of England

Great Yarmouth: +22.5%

Hertsmere: +6.8%