Rother house prices increased slightly in January

House prices increased slightly, by 0.2%, in Rother in January, new figures show.

The boost contributes to the longer-term trend, which has seen property prices in the area achieve 10.3% annual growth.

The average Rother house price in January was £355,131, Land Registry figures show – a 0.2% increase on December.

Over the month, the picture was similar to that across the South East, where prices increased 0.5%, and Rother underperformed compared to the 0.4% rise for the UK as a whole.

Over the last year, the average sale price of property in Rother rose by £33,000 – putting the area 40th among the South East’s 64 local authorities with price data for annual growth.

The best annual growth in the region was in East Hampshire, where property prices increased on average by 16.7%, to £456,000. At the other end of the scale, properties in Slough gained just 2.5% in value, giving an average price of £307,000.

Winners and Losers

Owners of flats saw the biggest improvement in property prices in Rother in January – they increased 0.6%, to £191,148 on average. Over the last year, prices rose by 5.9%.

Among other types of property:

Detached: down 0.2% monthly; up 12.4% annually; £564,222 averageSemi-detached: up 0.3% monthly; up 11.4% annually; £350,616 averageTerraced: up 0.4% monthly; up 9.9% annually; £286,849 average

First steps on the property ladder

First-time buyers in Rother spent an average of £277,000 on their property – £24,000 more than a year ago, and £62,000 more than in January 2017.

By comparison, former owner-occupiers paid £396,000 on average in January – 43.1% more than first-time buyers.

How do property prices in Rother compare?

Buyers paid 6.1% less than the average price in the South East (£378,000) in January for a property in Rother. Across the South East, property prices are lower than those across the UK, where the average cost £274,000.

The most expensive properties in the South East were in Elmbridge – £695,000 on average, and twice as much as more than in Rother. Elmbridge properties cost three times as much as homes in Portsmouth (£235,000 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 January

Rother: £355,131The South East:£378,311UK: £273,762

Annual growth to January

Rother: +10.3%The South East: +11.1%UK: +9.6%

Best and worst annual growth in the South East

East Hampshire: +16.7%Slough: +2.5%