Worthing house prices held steady in April

House prices remained steady in Worthing in April, new figures show.

The lack of movement maintains the longer-term trend, which has seen property prices in the area grow by 2.8% over the last year.

The average Worthing house price in April was £354,270, Land Registry figures show – largely unchanged from March.

Over the month, the picture was similar to that across the South East, where prices decreased 0.5%, but Worthing was lower than the 0.5% rise for the UK as a whole.

Over the last year, the average sale price of property in Worthing rose by £9,500 – putting the area 53rd among the South East’s 64 local authorities with price data for annual growth.

The highest annual growth in the region was in Dover, where property prices increased on average by 8.9%, to £330,000. At the other end of the scale, properties in Windsor and Maidenhead lost 1.4% of their value, giving an average price of £532,000.

First steps on the property ladder

First-time buyers in Worthing spent an average of £281,800 on their property – £6,800 more than a year ago, and £58,700 more than in April 2018.

By comparison, former owner-occupiers paid £416,700 on average in April – 47.9% more than first-time buyers.

Property types

Owners of flats saw the biggest rise in property prices in Worthing in April – they increased 0.1%, to £224,982 on average. Over the last year, prices rose by 2.2%.

Among other types of property:

• Detached: down 0% monthly; up 3.1% annually; £667,178 average
• Semi-detached: up 0.1% monthly; up 3.4% annually; £470,479 average
• Terraced: down 0.3% monthly; up 2.6% annually; £373,690 average

How do property prices in Worthing compare?

Buyers paid 9.6% less than the average price in the South East (£392,000) in April for a property in Worthing. Across the South East, property prices are high compared to those across the UK, where the average cost £286,000.

The most expensive properties in the South East were in Elmbridge – £679,000 on average, and 1.9 times the price as in Worthing. Elmbridge properties cost 2.8 times the price as homes in Southampton (£245,000 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 April

• Worthing: £354,270
• The South East:£391,766
• UK: £286,489

Annual growth to April

• Worthing: +2.8%
• The South East: +3.5%
• UK: +3.5%

Highest and lowest annual growth in the South East

• Dover: +8.9%
• Windsor and Maidenhead: -1.4%