Horsham house prices increased in May

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House prices increased by 1.3% in Horsham in May, new figures show.

The boost contributes to the longer-term trend, which has seen property prices in the area achieve 9.6% annual growth.

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The average Horsham house price in May was £399,133, Land Registry figures show – a 1.3% increase on April.

Over the month, the picture was similar to that across the South East, where prices increased 1.4%, but Horsham outperformed the 0.9% rise for the UK as a whole.

The average Horsham house price in May was £399,133, Land Registry figures show – a 1.3% increase on April.The average Horsham house price in May was £399,133, Land Registry figures show – a 1.3% increase on April.
The average Horsham house price in May was £399,133, Land Registry figures show – a 1.3% increase on April.

Over the last year, the average sale price of property in Horsham rose by £35,000 – putting the area 24th among the South East’s 70 local authorities for annual growth.

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The best annual growth in the region was in Oxford, where property prices increased on average by 16.1%, to £456,000. At the other end of the scale, properties in Chichester lost 2.7% of their value, giving an average price of £396,000.

Winners and Losers

Owners of semi-detached houses saw the biggest improvement in property prices in Horsham in May – they increased 1.4%, to £405,573 on average. Over the last year, prices rose by 10.3%.

Among other types of property:

Detached: up 1.3% monthly; up 10.5% annually; £654,156 average

Flats: up 0.7% monthly; up 5.4% annually; £200,161 average

First steps on the property ladder

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First-time buyers in Horsham spent an average of £293,000 on their property – £24,000 more than a year ago, and £31,000 more than in May 2016.

By comparison, former owner-occupiers paid £474,000 on average in May – 61.8% more than first-time buyers.

How do property prices in Horsham compare?

Buyers paid 14% more than the average price in the South East (£350,000) in May for a property in Horsham. Across the South East, property prices are high compared to those across the UK, where the average cost £255,000.

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The most expensive properties in the South East were in Elmbridge – £646,000 on average, and 1.6 times as much as in Horsham. Elmbridge properties cost 2.9 times as much as homes in Southampton (£221,000 average), at the other end of the scale.

The highest property prices across the UK were in Kensington and Chelsea, where the average May sale price of £1.2 million could buy 12 properties in Burnley (average £100,000).

Factfile

Average property price in May

Horsham: £399,133

The South East: £350,016

UK: £254,624

Annual growth to May

Horsham: +9.6%

The South East: +9.1%

UK: +10%

Best and worst annual growth in the South East

Oxford: +16.1%

Chichester: -2.7%

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