THE Maldon district saw a boost in house prices at the end of last year, according to new figures.
A report from the Land Registry’s UK Hose Price Index showed a 2.2 per cent increase between November and December, contributing to a long-term trend which has seen four per cent annual growth in the area.
The average Maldon house price in December was £350,707.
Over the month, the picture was similar across the East of England, where prices increased 2.4 per cent, but Maldon outperformed the 1.2 per cent rise for the UK as a whole.
Over the past year, the average sale price of Maldon property rose by £14,000 – putting the area 37th among the East of England’s 50 local authorities for annual growth.
Owners of flats saw the biggest improvement with an increase of 2.8 per cent, to £161,104 on average, with prices rising 0.2 per cent last year.
First-time buyers in Maldon spent an average of £266,200 on their property – £7,800 more than a year ago, and £56,400 more than in November 2015.
By comparison, former owner-occupiers paid £399,300 on average in December – 50 per cent more than first-time buyers.
Buyers paid 12.8 per cent more than the East of England average of £311,000 in December for a property in Maldon.
Compared to the UK’s average of £252,000, the East of England has above-average prices.
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