HOUSE prices increased slightly by 0.7 per cent in Maldon in August, new figures show.

The boost contributes to the longer-term trend, which has seen property prices in the area achieve 13.2 per cent annual growth.

The average Maldon house price in August was £375,496, Land Registry figures show.

Over the month, the picture was less good than that across the East of England, where prices increased 2.9 per cent – in line with UK figures.

Over the last year, the average sale price of property in Maldon rose by £44,000 – putting the area ninth among the East of England’s 50 local authorities for annual growth.

Winners and Losers

Owners of detached houses saw the biggest improvement in property prices in Maldon in August – up 0.9 per cent, to £548,978 on average. Over the last year, prices rose by 14.4 per cent.

Among other types of property:

Terraced: up 0.1 per cent monthly and 11.7 per cent annually to £254,989 on average.

Flats: down 0.1 per cent monthly but up 7.2 per cent annually to £166,162 average

First steps on the property ladder

First-time buyers in Maldon spent an average of £285,000 on their property – £32,000 more than a year ago, and £53,000 more than in August 2016.

How do property prices in Maldon compare?

Buyers paid 15.7 per cent more for a property in Maldon than the average price in the East of England (£325,000) in August. The UK average cost is £264,000.

The most expensive properties in the East of England were in St Albans – £588,000 on average, and the cheapest in Great Yarmouth (£190,000 average).

Factfile

Average property price in August

Maldon: £375,496

East of England: £324,510

UK: £264,244

Annual growth to August

Maldon: +13.2%

East of England: +9.6%

UK: +10.6%