Horsham house prices increased in May
and on Freeview 262 or Freely 565
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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Hide AdThe 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.
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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Hide AdThe 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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Hide AdFirst-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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Hide AdThe 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%