Bucks house prices rise more than south east average in March

House prices increased by 0.8 per cent more than the average for the South East in Buckinghamshire in March, new figures show.

The rise contributes to the longer-term trend, which has seen property prices in the area grow by 1.3% over the last year.

The average Buckinghamshire house price in March was £450,295. Land Registry figures show a 0.8% increase on February.

Over the month, the picture was similar to that across the South East, where prices increased 0.3%, and Buckinghamshire was above the 0.7% rise for the UK as a whole.

Over the last year, the average sale price of property in Buckinghamshire rose by £5,600 – putting the area 14th among the South East’s 64 local authorities with price data for annual growth.

The highest annual growth in the region was in West Oxfordshire, where property prices increased on average by 6%, to £392,000.

At the other end of the scale, properties in Canterbury lost 12.1% of their value, giving an average price of £322,000.

First steps on the property ladder

First-time buyers in Buckinghamshire spent an average of £335,600 on their property – £5,900 more than a year ago, and £34,300 more than in March 2019.

By comparison, former owner-occupiers paid £532,900 on average in March – 58.8% more than first-time buyers.

Property types

Owners of flats saw the biggest rise in property prices in Buckinghamshire in March – they increased 1.4%, to £236,984 on average.

Over the last year, prices rose by 1.2%.

Among other types of property:

Detached: up 0.7% monthly; up 0.6% annually; £804,896 average

Semi-detached: up 0.6% monthly; up 2% annually; £447,718 average

Terraced: up 0.6% monthly; up 1.6% annually; £353,095 average

How do property prices in Buckinghamshire compare?

Buyers paid 20.7% more than the average price in the South East (£373,000) in March for a property in Buckinghamshire.

Across the South East, property prices are high compared to those across the UK, where the average cost is £283,000.

The most expensive properties in the South East were in Elmbridge – £645,000 on average, and 1.4 times the price as in Buckinghamshire.

Elmbridge properties cost 2.7 times the price as homes in Gosport (£239,000 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 March

Buckinghamshire: £450,295

The South East: £373,223UK: £282,776

Annual change to March

Buckinghamshire: +1.3%

The South East: -1.3%

UK: +1.8%

Highest and lowest annual growth in the South East

West Oxfordshire: +6%

Canterbury: -12.1%