Horsham house prices increased slightly in October

The boost contributes to the longer-term trend, which has seen property prices in the area achieve 13% annual growth.

The average Horsham house price in October was £425,376, Land Registry figures show – a 0.8% increase on September.

Over the month, the picture was better than that across the South East, where prices decreased 0.7%, and Horsham outperformed the 1.1% drop for the UK as a whole.

Over the last year, the average sale price of property in Horsham rose by £49,000 – putting the area 21st among the South East’s 64 local authorities with price data for annual growth.

The best annual growth in the region was in Mole Valley, where property prices increased on average by 18.4%, to £581,000. At the other end of the scale, properties in Slough lost 0.1% of their value, giving an average price of £300,000.

Winners and Losers

Owners of detached houses saw the biggest improvement in property prices in Horsham in October – they increased 1.8%, to £709,260 on average. Over the last year, prices rose by 14.9%.

Among other types of property:

Semi-detached: up 0.4% monthly; up 13.7% annually; £432,487 average

Terraced: up 0% monthly; up 11.5% annually; £340,135 average

Flats: down 0.3% monthly; up 9.1% annually; £209,193 average

First steps on the property ladder

First-time buyers in Horsham spent an average of £310,000 on their property – £34,000 more than a year ago, and £38,000 more than in October 2016.

By comparison, former owner-occupiers paid £508,000 on average in October – 64.1% more than first-time buyers.

How do property prices in Horsham compare?

Buyers paid 15.9% more than the average price in the South East (£367,000) in October for a property in Horsham. Across the South East, property prices are higher than those across the UK, where the average cost £268,000.

The most expensive properties in the South East were in Elmbridge – £711,000 on average, and 1.7 times as much as more than in Horsham. Elmbridge properties cost 3.2 times as much as homes in Southampton (£222,000 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 October

Horsham: £425,376

The South East: £366,883

UK: £268,349

Annual growth to October

Horsham: +13%

The South East: +10.3%

UK: +10.2%

Best and worst annual growth in the South East

Mole Valley: +18.4%

Slough: -0.1%