House prices in Maldon district fell in August

But the drop does not reverse the longer-term trend, which has seen property prices in the area grow by 4.1 per cent over the last year.

The average Maldon house price in August was £422,255, Land Registry figures show – a 1.1 per cent decrease on July.

Over the month, the picture was similar to that across the East of England, where prices decreased 0.7 per cent.

The UK as a whole saw a 0.3 per cent rise.

Over the last year, the average sale price of property in Maldon rose by £17,000 – putting the area second among the East of England’s 45 local authorities with figures for annual growth.

First-time buyers in Maldon spent an average of £319,000 on their property – £12,000 more than a year ago, and £62,000 more than in August 2018.

Owners of flats saw the biggest fall in property prices in Maldon in August – down 1.8 per cent to £178,560 on average. But over the last year, prices rose by 2.8 per cent.

Detached homes were down one per cent monthly but up 4.7 per cent annually to £622,913 on average.

Semi-detached homes were down 0.8 per cent monthly and up 4.2 per cent annually to £382,872.

Terraced homes were down 1.1 per cent monthly and up three per cent annually to £285,132.

Buyers in the Maldon district paid 20.4 per cent more than the average price in the East of England (£351,000).

The UK average cost is £291,000.


Average property price in August

Maldon: £422,255

East of England: £350,728

UK: £291,044

Annual change to August

Maldon: +4.1%

East of England: -1.6%

UK: +0.2%