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First Quarter 2005

AVERAGE HOUSE PRICES IN THE SOUTH EAST (ALL PROPERTIES)

Prices shown in the tables below are arithmetic average prices of houses on which an offer of mortgage has been granted.  These prices are not standardised and therefore can be affected by changes in the sample from quarter to quarter.  Towns & Counties in red are hotspots

 

POST-TOWN

AVERAGE HOUSE

PRICE - £

2004*

AVERAGE HOUSE

PRICE - £

2005*

%

CHANGE

Abingdon

231,750

231,773

0%

Addlestone

245,713

252,418

3%

Aldershot

173,360

190,769

10%

Alton

243,269

317,273

30%

Andover

184,368

200,831

9%

Ascot

421,756

440,589

4%

Ashford-Kent

188,478

201,866

7%

Aylesbury

204,279

210,832

3%

Aylesford

206,546

233,692

13%

Banbury

194,379

222,575

15%

Basildon

146,337

159,698

9%

Basingstoke

189,434

203,210

7%

Bedford

180,912

207,194

15%

Benfleet

193,495

211,990

10%

Bexhill-on-Sea

160,662

200,675

25%

Bicester

212,388

231,660

9%

Biggleswade

169,760

191,675

13%

Billericay

261,530

299,424

14%

Bishops-Stortford

258,635

309,207

20%

Bognor-Regis

173,764

183,312

5%

Bracknell

199,351

222,341

12%

Braintree

196,795

211,848

8%

Brentwood

273,371

313,357

15%

Brighton

202,965

206,189

2%

Broxbourne

215,046

260,704

21%

Buckingham

238,709

232,180

-3%

Burgess-Hill

218,394

214,906

-2%

Camberley

276,495

285,206

3%

Canterbury

194,595

213,570

10%

Canvey-Island

159,611

176,910

11%

Carterton

199,179

194,671

-2%

Chatham

144,366

159,759

11%

Chelmsford

232,332

229,677

-1%

Chichester

242,310

256,150

6%

Clacton-on-Sea

142,870

157,454

10%

Colchester

182,563

202,360

11%

Cowes

154,612

164,131

6%

Crawley

193,670

198,063

2%

Crowborough

226,370

286,232

26%

Dartford

185,974

186,491

0%

Deal

153,785

182,557

19%

Dorking

306,505

321,078

5%

Dover

136,213

159,770

17%

Dunmow

254,931

274,254

8%

Dunstable

164,310

179,038

9%

Eastbourne

174,834

178,625

2%

East-Grinstead

237,038

261,110

10%

Eastleigh

202,654

231,447

14%

Egham

261,922

291,520

11%

Epping

262,266

328,095

25%

Epsom

277,744

327,304

18%

Fareham

194,243

214,703

11%

POST-TOWN

AVERAGE HOUSE

PRICE - £

2004*

AVERAGE HOUSE

PRICE - £

2005*

%

CHANGE

Farnborough

187,384

200,023

7%

Farnham

320,213

346,965

8%

Fleet

260,358

303,308

17%

Folkestone

142,807

159,909

12%

Gillingham

153,272

155,844

2%

Godalming

325,377

351,081

8%

Gosport

124,121

136,140

10%

Gravesend

172,425

182,137

6%

Grays

171,573

180,591

5%

Greenhithe

183,853

197,130

7%

Guildford

310,317

347,518

12%

Hailsham

205,460

201,537

-2%

Harlow

163,843

180,456

10%

Harpenden

407,334

400,362

-2%

Harwich

149,132

170,235

14%

Hastings

157,558

191,424

21%

Hatfield

269,584

270,481

0%

Havant

170,990

172,373

1%

Haywards-Heath

275,420

276,671

0%

Hemel-Hempstead

210,046

216,639

3%

Herne-Bay

173,341

190,733

10%

Hertford

258,979

320,663

24%

High-Wycombe

236,609

257,212

9%

Hitchin

226,678

224,349

-1%

Hoddesdon

185,206

218,376

18%

Hook

316,792

363,808

15%

Horley

210,475

230,416

9%

Horsham

247,368

264,077

7%

Hove

205,160

213,295

4%

Lancing

162,041

172,108

6%

Leatherhead

421,538

407,524

-3%

Leigh-on-Sea

192,846

217,160

13%

Leighton-Buzzard

198,989

200,740

1%

Letchworth

177,129

169,513

-4%

Lewes

264,580

272,630

3%

Littlehampton

192,941

202,879

5%

Luton

144,323

152,652

6%

Lymington

283,431

317,416

12%

Maidenhead

281,718

306,345

9%

Maidstone

203,519

220,496

8%

Maldon

194,825

253,492

30%

Margate

131,257

156,297

19%

Milton-Keynes

183,835

194,573

6%

Newbury

243,558

287,610

18%

New-Milton

201,772

218,316

8%

Newport,-Isle-of-Wight

160,794

158,194

-2%

Oxford

280,761

282,460

1%

Portsmouth

143,496

158,682

11%

Potters-Bar

275,746

323,905

17%

Pulborough

305,146

359,588

18%

Ramsgate

133,404

160,621

20%

Rayleigh

221,048

248,384

12%

Reading

228,354

252,922

11%

  

POST-TOWN

AVERAGE HOUSE PRICE - £

2004*

AVERAGE HOUSE PRICE - £ 2005*

%

CHANGE

Redhill

226,621

241,646

7%

Rickmansworth

327,302

441,056

35%

Rochester

165,909

191,897

16%

Royston

229,147

266,005

16%

Ryde

139,326

158,884

14%

Saffron-Walden

233,270

289,170

24%

Sandhurst

228,413

244,226

7%

Sandy

184,204

225,354

22%

Seaford

180,123

201,276

12%

Sevenoaks

405,666

408,875

1%

Sheerness

150,739

150,622

0%

Shoreham-by-Sea

186,289

211,317

13%

Sittingbourne

166,091

180,896

9%

Slough

204,444

222,710

9%

Southampton

184,504

191,296

4%

Southend-on-Sea

167,558

187,224

12%

South-Ockendon

146,645

163,343

11%

Southsea

152,732

164,849

8%

St-Albans

287,740

298,022

4%

Stanford-le-Hope

174,152

207,296

19%

Stevenage

181,863

183,164

1%

St-Leonards-on-Sea

138,670

161,740

17%

Thatcham

213,447

274,731

29%

Tonbridge

252,377

309,703

23%

Tunbridge-Wells

238,342

277,131

16%

Uckfield

249,387

286,307

15%

Waltham-Abbey

209,361

248,559

19%

Waltham-Cross

206,397

221,573

7%

Walton-on-Thames

350,776

376,299

7%

Ware

261,410

259,982

-1%

Waterlooville

200,064

200,028

0%

Watford

205,570

216,978

6%

Welwyn-Garden-City

208,555

241,068

16%

Westcliff-On-Sea

144,091

160,193

11%

West-Malling

287,636

291,608

1%

Weybridge

408,692

505,969

24%

Whitstable

197,719

215,488

9%

Wickford

183,954

185,861

1%

Winchester

280,482

311,145

11%

Windsor

344,875

363,911

6%

Witham

180,122

213,578

19%

Witney

219,657

261,310

19%

Woking

310,549

312,633

1%

Wokingham

297,223

305,351

3%

Worthing

184,139

198,856

8%

 

COUNTY

AVERAGE HOUSE

PRICE - £

2004*

AVERAGE HOUSE

PRICE - £

2005*

%

CHANGE

Bedfordshire

167,201

184,222

10%

Berkshire

241,252

263,461

9%

Buckinghamshire

240,277

257,593

7%

East-Sussex

200,640

211,314

5%

Essex

198,126

215,255

9%

Hampshire

195,552

213,581

9%

Hertfordshire

251,869

263,631

5%

Isle-of-Wight

156,014

168,381

8%

Kent

188,286

207,979

10%

Oxfordshire

243,414

255,766

5%

Surrey

314,683

341,710

9%

West-Sussex

218,184

232,630

7%

Here you will find a general overview of the area

"House price ‘hot spots’ in the South East include Rickmansworth, where house prices have risen by 35% over the last year to reach £441,056, Maldon, where house prices have risen by 30% to reach £253,492 and Alton, where house prices have risen by 30% to reach £317,273.   Weybridge is the most expensive place to live in the South East with an average house price of £505,569.  The most affordable area to live in the South East is Gosport, where the average house price is £136,140. 

 

Selected areas in the South East have continued to experience solid growth and recent developments have continued to attract interest from buyers.

 

House prices in Portsmouth have increased by 11% over the last year from £143,496 to £158,682.  Portsmouth's exclusive areas - Havant, Waterlooville and Fareham - remain popular and properties in these areas are sold at premium prices.

 

First time buyers are showing interest in properties within the Gosport area, located one and a half hour’s drive away (in rush hour traffic) from Portsmouth (£158,682) on the A32.  A new, up and coming area, recent development in Gosport have resulted in an increase in the supply of £250-500,000 properties in Gosport's Priddy Hard.

 

The areas of Hastings and St. Leonards remain firm favorites with first time buyers, who traditionally buy flats and small houses up to £120,000. However, talk of expansion and local development in Hastings, along with improved rail links and the approved A21 bypass has seen an influx of investor purchasers.  House prices in Hastings have increased by 21% over the last year from £157,558 to £191,424.

 

The housing market in Brighton has seen an increase in the number of viewings on converted and purpose built one and two bedroom flats with properties in the region of £170,000 continuing to sell well. 

More/….

3 of 10

First time buyers are traditionally buying flats within the £150,000 price range.  Interest is also shown in quality, three bedroom period houses up to £350,000 as soon as they come onto the market.

 

House prices in Seaford upon the South East coast have increased by 12% over the last year from £180,123 to £201,276.  Two to three bedroom houses selling in the region of £150,000 and £180,000 and bungalows selling for between £150,000 and £200,000 continue to be popular.

 

House prices in Hove have risen by 4% over the last year to an average of £213,295.  One and two bedroom flats in the region of £180,000 continue to sell well.  Hove's seafront by King Alfred’s leisure centre is currently being earmarked for re-development, including the introduction of new flats, leisure complexes, shops and a casino.  In addition, the Seven Dials area, in the centre of the city close to Brighton station continues to be popular.

 

The housing market in Shoreham-by-sea has begun to pick up, especially for flats and small houses.  House prices in the area have increased by 13% to £211,317.   However, the market for bungalows is lagging behind and houses at the top of the market are taking longer to sell.  There is currently development activity in the Shoreham Beach area and also in central Shoreham-by-Sea.  North Shoreham and any roads north of Upper Shoreham Road are very popular because the properties there tend to be larger and spaced further apart.

 

The housing market in Slough is buoyant and house prices have increased by 9% over the last year to reach £222,710.  Being strategically located, Slough is within reach of M4, M25, M40 and Heathrow and is ideal for commuters into London.  Slough is extremely popular with first time buyers and investors. A recent influx of properties onto the market has increased buying power. Properties within the Castle view school catchment area are highly sought after by families with interest shown as soon they come onto the market.

 

Affordability constraints have seen more buyers look at the West Kent commuter belt where areas such as Royal Tunbridge Wells are more affordable and only a 45-minute train journey from London.  Coupled with the upmarket image and excellent proximity to the A21/ M25, Tunbridge Wells has become a haven for people seeking a flavour of town and country life. New apartments are particularly attractive for first time buyers, young professionals and commuters in areas such as St Johns and the village area, which are located near to Tunbridge Wells' train station.  

 

Families in Tunbridge Wells traditionally seek properties within the catchment areas of Claremont Primary School, St. James' Primary School, along with the Tunbridge Wells Boys and Girls Grammar Schools. These schools rank as some of the best in the country.  House prices in Tunbridge Wells have increased by 16% over the last year from £238,342 to £277,131.

 

Plans to electrify the train link between Hastings and Ashford would make a trip to London just over an hour long, rather than the current one hour and forty minutes.  This has helped house prices in Ashford to increase by 7% over the last year from £188,478 to £201,866.

 

The excellent road networks in Maidstone and the planned high-speed rail link to London, have had a positive impact on house prices, which have grown by 8% over the last year to £220,496.  Bearsted and Allington continue to be the local hot spots due to their excellent reputations, good schools and outstanding transport infrastructure.  Two bedroom terraced houses are the most popular in Maidstone.  Increased development has seen more new build properties going up just outside the town area and the redevelopment of ex-council areas.

In Gillingham, house prices have increased by 2% over the last year from £153,272 to £155,844.  The area remains popular with first time buyers who traditionally buy properties within the £120,000 region, which are close to the station, hospital or University.  There is a large amount of development following the River Medway at the bottom of the town, along with continuing development of St Mary's Island in Chatham (£159,759.)  Chatham Maritime also has planned residential and commercial buildings, along with improved recreational facilities.

Villages in the North of Kent are amongst the most sought after in the London commuter belt.  In Barnehurst, for example, three bedroom properties for under £200,000 remain very popular.  In Catford two and three bedroom houses and conversion flats are in demand and there is a high level of interest in the planned development in Hither Green Lane and in the Ladywell area.  Ex local authority properties and anything under £200,000 continue to be in demand in Swanley.  Regeneration and redevelopment in Erith has made the area more desirable.

 

House prices in Gravesend have risen by 6% over the last year from £172,425 to £182,137.  With a mixture of locally owned and run speciality shops and services and with the St. George's Shopping Centre, Gravesend provides an abundance of local amenities."

 


 

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