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St Edmundsbury house prices increase by 3.1 per cent in 2019

House prices increased slightly in St Edmundsbury in December, new figures show.

The boost contributes to the longer-term trend, which has seen property prices in the area achieve 3.1 per cent annual growth.

According to Land Registry figures, the average St Edmundsbury house price in December was £288,733 – a 0.5 per cent increase on November.

House prices. Stock picture. RADAR (29633468)
House prices. Stock picture. RADAR (29633468)

Over the month, the picture was less good than that across the East of England, where prices increased 2.1 per cent, but St Edmundsbury outperformed the 0.3 per cent rise for the UK as a whole.

Over the last year, the average sale price of property in St Edmundsbury rose by £8,700 – putting the area 10th among the East of England’s 47 local authorities for annual growth.

The best annual growth in the region was in St Albans, where properties increased on average by 7.2 per cent, to £527,000. At the other end of the scale, properties in Uttlesford dropped 7.1 per cent in value, giving an average price of £377,000.

Owners of detached houses saw the biggest improvement in property prices in St Edmundsbury in December – they increased 0.7 per cent, to £443,080 on average. Over the last year, prices rose by 3.4 per cent.

First-time buyers in St Edmundsbury spent an average of £230,700 on their property, which is £6,400 more than a year ago and £51,600 more than in December 2014.

By comparison, former owner-occupiers paid £332,000 on average in December – 43.9 per cent more than first-time buyers.

Buyers paid three per cent less than the average price in the East of England (£298,000) in December for a property in St Edmundsbury.

Across the East of England, property prices are high compared to those across the UK, where the average cost £235,000.

The most expensive properties in the East of England were in St Albans – £527,000 on average and 1.8 times as much as in St Edmundsbury. St Albans properties cost three times as much as homes in Great Yarmouth (£175,000 average), at the other end of the scale.

Average property price in December:

  • St Edmundsbury: £288,733;
  • East of England: £297,714
  • UK: £234,742

Annual growth to December:

  • St Edmundsbury: +3.1 per cent
  • East of England: +2.4 per cent
  • UK: +2.2 per cent

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