Worthing house prices increased more than South East average in January

House prices increased by 0.6% – more than the average for the South East – in Worthing in January, new figures show.

The boost contributes to the longer-term trend, which has seen property prices in the area achieve 16.5% annual growth.

The average Worthing house price in January was £336,464, Land Registry figures show – a 0.6% increase on December.

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

Over the last year, the average sale price of property in Worthing rose by £48,000 – putting the area third 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 terraced houses saw the biggest improvement in property prices in Worthing in January – they increased 0.7%, to £352,377 on average. Over the last year, prices rose by 16.5%.

Among other types of property:

Detached: up 0.2% monthly; up 19.9% annually; £632,213 averageSemi-detached: up 0.7% monthly; up 18.3% annually; £443,361 averageFlats: up 0.6% monthly; up 13.5% annually; £216,147 average

First steps on the property ladder

First-time buyers in Worthing spent an average of £269,000 on their property – £37,000 more than a year ago, and £56,000 more than in January 2017.

By comparison, former owner-occupiers paid £394,000 on average in January – 46.8% more than first-time buyers.

How do property prices in Worthing compare?

Buyers paid 11.1% less than the average price in the South East (£378,000) in January for a property in Worthing. 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 2.1 times as much as more than in Worthing. 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

Worthing: £336,464The South East:£378,311UK: £273,762

Annual growth to January

Worthing: +16.5%The South East: +11.1%UK: +9.6%

Best and worst annual growth in the South East

East Hampshire: +16.7%Slough: +2.5%