Arun house prices increased in October

The boost contributes to the longer-term trend, which has seen property prices in the area achieve 14.7 per cent annual growth.

The average Arun house price in October was £335,451, Land Registry figures show – a 2.7 per cent increase on September.

Over the month, the picture was better than that across the South East, where prices decreased 0.7 per cent , and Arun outperformed the 1.1 per cent drop for the UK as a whole.

Over the last year, the average sale price of property in Arun rose by £43,000 – putting the area 12th among the South East’s 64 local authorities with price data for annual growth.

The best annual growth in the region was in Mole Valley, where property prices increased on average by 18.4 per cent to £581,000.

At the other end of the scale, properties in Slough lost 0.1% of their value, giving an average price of £300,000.

Winners and Losers

Owners of detached houses saw the biggest improvement in property prices in Arun in October – they increased 3.4 per cent, to £551,695 on average. Over the last year, prices rose by 16.2 per cent .

Among other types of property:

Semi-detached: up 2.6 per cent monthly; up 15.3 per cent annually; £351,657 average

Terraced: up 2.4 per cent monthly; up 15.2 per cent annually; £286,166 average

Flats: up 2.1 per cent monthly; up 11.2 per cent annually; £185,051 average

First steps on the property ladder

First-time buyers in Arun spent an average of £263,000 on their property – £32,000 more than a year ago, and £50,000 more than in October 2016.

By comparison, former owner-occupiers paid £382,000 on average in October – 45.1 per cent more than first-time buyers.

How do property prices in Arun compare?

Buyers paid 8.6 per cent less than the average price in the South East (£367,000) in October for a property in Arun.

Across the South East, property prices are lower than those across the UK, where the average cost £268,000.

The most expensive properties in the South East were in Elmbridge – £711,000 on average, and 2.1 times as much as more than in Arun.

Elmbridge properties cost 3.2 times as much as homes in Southampton (£222,000 average), at the other end of the scale.

The highest property prices across the UK were in Kensington and Chelsea.

Factfile

Average property price in October

Arun: £335,451

The South East: £366,883

UK: £268,349

Annual growth to October

Arun: +14.7 per cent

The South East: +10.3 per cent

UK: +10.2 per cent

Best and worst annual growth in the South East

Mole Valley: +18.4 per cent

Slough: -0.1 per cent