Maldon district house prices increased by 4.7 per cent in January – more than the average for the East of England – new figures show.

The boost contributes to the longer-term trend, which has seen property prices in the area achieve 20.7 per cent annual growth – the highest in the East of England.

The average Maldon house price in January was £418,681, Land Registry figures show – a 4.7 per cent increase on December.

Over the month, the picture was better than across the East of England where prices increased 1.4 per cent.

Buyers paid 22.6 per cent more than the average price in the region (£342,000) in January for a property in Maldon.

READ MORE >>> Figures reveal most expensive Maldon neighbourhoods

The district also outperformed the 0.4 per cent rise for the UK as a whole.

Across the East of England, property prices are high compared to those across the UK, where the average cost £274,000.

Over the last year, the average sale price of property in Maldon rose by £72,000 – putting the area top among the East of England’s 45 local authorities with price data for annual growth.

Owners of flats saw the biggest improvement in property prices in Maldon in January – they increased 5 per cent, to £180,049 on average.

First-time buyers in Maldon spent an average of £316,000 on their property – £53,000 more than a year ago, and £78,000 more than in January 2017.

By comparison, former owner-occupiers paid £478,000 on average in January – 51.3 per cent more than first-time buyers.