House prices in Buckinghamshire rose slightly in September

House prices rose slightly, by 0.2%, in Buckinghamshire in September, according to new figures.

This rise contributes to the longer-term trend, which has seen property prices in the area increase by 13.7% over the past year.

The average house price in Buckinghamshire in September was £489,334, according to Land Registry figures, an increase of 0.2% from August.

During the month, the situation was similar to the South East, where prices fell 0.2%, and Buckinghamshire was above the UK as a whole, where prices were unchanged .

Over the past year the average sale price of a property in Buckinghamshire has risen by £59,000, putting the area 30th out of 64 local authorities in the South East with price data for annual growth.

The region’s highest annual growth was recorded in Dover, where house prices rose by an average of 16.8% to £324,000.

At the other end of the scale, properties in Gravesham gained 7.9% in value, with an average price of £334,000.

An imbalance between supply and demand for properties has driven up house prices across the UK throughout the pandemic.

But typical property values ​​stagnated in the UK between August and September, slowing annual growth.

Andy Sommerville, director of property data provider Search Acumen, said the latest data is further evidence of a “return in property prices”.

The figures do not yet reflect the full impact of the mini-budget, announced towards the end of September, which caused volatility in the mortgage market and sent interest rates on new deals skyrocketing.

Nicky Stevenson, chief executive of estate agent group Fine and Country, said: ‘Annual property price growth slowed in September amid rising interest rates and shrinking disposable incomes.

“All eyes will now be on Chancellor Jeremy Hunt’s autumn statement, which is expected to include both tax hikes and spending cuts,” he added.

First steps on the property ladder

First-time buyers in Buckinghamshire spent an average of £361,000 on their property, £43,000 more than a year ago and £52,000 more than in September 2017.

By comparison, former homeowners paid £584,000 on average in September, 61.6% more than first-time buyers.

Property Types

Owners of semi-detached homes saw the biggest rise in house prices in Buckinghamshire in September – they rose 0.5%, to £485,502 on average.

Over the past year, prices have increased by 15%.

Among other types of goods:

Individual: increase of 0.4% per month; up 13.9% per year; £892,883 on average

Semi-detached: +0.1% monthly; up 14.1% per year; £380,372 on average

Apartments: decrease of 0.5% per month; up 10.2% per year; £250,572 on average

How do you compare property prices in Buckinghamshire?

Buyers paid 21.3% more than the average price in the South East (£404,000) in September for property in Buckinghamshire.

Property prices in the South East are high compared to those in the UK, where the average cost is £295,000.

The most expensive properties in the South East were in Elmbridge – £744,000 on average, and 1.5 times more than in Buckinghamshire.

Properties in Elmbridge cost three times as much as houses in Southampton (£249,000 on average), at the other end of the scale.

The highest house prices in the UK were in Kensington and Chelsea.

Information sheet

Average house prices in September

Buckinghamshire: £489,334

The South East: £403,515

UK: £294,559

Annual growth until September

Buckinghamshire: +13.7%

The Southeast: +10.3%

United Kingdom: +9.5%

Highest and lowest annual growth in the South

East Dover: +16.8%

Graveham: +7.9%

Christy J. Olson