Rother house prices increased more than South East average in June

House prices increased by 2% – more than the average for the South East – in Rother in June, new figures show.

The rise contributes to the longer-term trend, which has seen property prices in the area grow by 1.5% over the last year.

The average Rother house price in June was £378,420, Land Registry figures show – a 2% increase on May.

Over the month, the picture was different to that across the South East, where prices increased 0.6%, and Rother was above the 0.7% rise for the UK as a whole.

Over the last year, the average sale price of property in Rother rose by £5,500 – putting the area 41st among the South East’s 64 local authorities with price data for annual growth.

The highest annual growth in the region was in West Oxfordshire, where property prices increased on average by 13.1%, to £421,000. At the other end of the scale, properties in Elmbridge lost 5.4% of their value, giving an average price of £659,000.

First steps on the property ladder

First-time buyers in Rother spent an average of £295,500 on their property – £3,900 more than a year ago, and £64,300 more than in June 2018.

By comparison, former owner-occupiers paid £421,900 on average in June – 42.8% more than first-time buyers.

Property types

Owners of flats saw the biggest rise in property prices in Rother in June – they increased 2.3%, to £202,433 on average. Over the last year, prices rose by 1.1%.

Among other types of property:

• Detached: up 1.6% monthly; up 1.3% annually; £597,485 average
• Semi-detached: up 2% monthly; up 2.2% annually; £377,086 average
• Terraced: up 2.3% monthly; up 0.4% annually; £306,522 average

How do property prices in Rother compare?

Buyers paid 3.3% less than the average price in the South East (£391,000) in June for a property in Rother. Across the South East, property prices are high compared to those across the UK, where the average cost is £288,000.

The most expensive properties in the South East were in Elmbridge – £659,000 on average, and 1.7 times the price as in Rother. Elmbridge properties cost 2.7 times the price as homes in Southampton (£246,000 average), at the other end of the scale.

The highest property prices across the UK were in Kensington and Chelsea, with an average price of £1.3 million.

Factfile

Average property price in June

• Rother: £378,420
• The South East:£391,406
• UK: £287,546

Annual growth to June

• Rother: +1.5%
• The South East: +1.3%
• UK: +1.7%

Highest and lowest annual growth in the South East

• West Oxfordshire: +13.1%
• Elmbridge: -5.4%