House prices dropped in Maldon in July, latest figures show.

​The ​drop ​contributes to the longer-term trend, which has seen property prices in the area ​suffer a 2.1 per cent annual decline​.

The average Maldon house price in July was £332,215, Land Registry figures show​ – a one per cent decrease on June.

Over the month, the picture was ​worse than that across the East of England, where prices ​increased 0.2 per cent​, and Maldon underperformed compared to the 0.5 per cent rise for the UK as a whole.

Over the last year, the average sale price of property in Maldon ​​remained level – putting the ​area 40th among the East of England’s 47 local authorities for annual growth.

​The best annual growth in the region was in South Norfolk, where properties increased on average by 7.3 per cent, to £274,000. ​At the other end of the scale, properties in Broxbourne dropped 4.5 per cent in value, giving an average price of £342,000.

Winners and Losers

Owners of detached houses fared worst in Maldon in July – they dropped 1.1 per cent in price, to £479,801 on average​. Over the last year, prices dropped by 1.9 per cent.

Among other types of property: Semi-detached - down 0.8 per cent monthly and down 1.6 per cent annually to £300,995 average​

First steps on the property ladder: First-time buyers in Maldon spent an average of £253,600 on their property – ​£6,600 less than a year ago, ​and ​£48,300 more than in July 2015.

By comparison, former owner-occupiers paid £​376,800 on average in July​ – 48.6 per cent more than first-time buyers.

How do property prices in Maldon compare?

Buyers paid 12.7 per cent more than the average price in the East of England (£295,000) in July for a property in Maldon. Across the East of England, property prices are high compared to those across the UK, where the average cost is £238,000.

The highest property prices across the UK were in Kensington and Chelsea, where the average July sale price was £1.2million could buy 14 properties in Burnley (average £91,000).


Average property price in July

Maldon: £332,215

East of England: £294,876

UK: £237,963

Annual growth to July

Maldon: -2.1%

East of England: +1.2%

UK: +2.3%

Best and worst annual growth in the East of England

South Norfolk: +7.3%

Broxbourne: -4.5%