HOUSE prices increased more than average for the East of England in Maldon in August, new figures show.

​The ​boost ​contributes to the longer-term trend, which has seen property prices in the area ​achieve 2.6 per cent annual growth​.

The average Maldon house price in August was £343,966, Land Registry figures show​ – a 2.9 per cent increase on July.

Over the month, the picture was ​better than that across the East of England, where prices ​increased 0.8 per cent​, and Maldon outperformed the 0.7 per cent rise for the UK as a whole.

Over the last year, the average sale price of property in Maldon ​​rose by £8,600 – putting the ​area 18th 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 5.9 per cent, to £269,000.

At the other end of the scale, properties in Babergh dropped 4.1 per cent in value, giving an average price of £279,000.

Winners and Losers

Owners of detached houses saw the biggest improvement in property prices in Maldon in August – they increased 3%, to £497,368 on average. Over the last year, prices rose by 2.7%.

Among other types of property:

  • Semi-detached: up 2.8 per cent monthly and 3.3 per cent annually to a £311,621 average.
  • Flats: up 1.7 per cent monthly ad down 0.9 per cent annually to a £158,660 average.

​First steps on the property ladder

First-time buyers in Maldon spent an average of £​261,900 on their property – ​£5,300 more than a year ago, ​and ​£51,400 more than in August 2015.

By comparison, former owner-occupiers paid £​390,800 on average in August​ – 49.3 per cent more than first-time buyers.

How do property prices in Maldon compare?

Buyers paid 16 per cent more than the average price in the East of England (£296,000) in August for a property in Maldon. Across the East of England, property prices are high compared to those across the UK, where the average cost £239,000.

The most expensive properties in the East of England were in St Albans – £522,000 on average, and 1.5 times as much as in Maldon. St Albans properties cost three times as much as homes in Great Yarmouth (£174,000 average), at the other end of the scale.

The highest property prices across the UK were in Kensington and Chelsea, where the average August sale price of £1.4 million could buy 15 properties in Burnley (average £91,000).


Average property price in August

  • Maldon: £343,966
  • The East of England: £296,411
  • UK: £239,196

Annual growth to August

  • Maldon: +2.6%
  • The East of England: +2.0%
  • UK: +2.5%

Best and worst annual growth in the East of England

  • South Norfolk: +5.9%
  • Babergh: -4.1%