House prices increased slightly, by 0.3 per cent, in Southend in April, new figures show.

But the rise does not reverse the longer-term trend, which has seen property prices in the area suffer a 3.3% annual decline.

The average Southend house price in April was £314,796. Land Registry figures show a 0.3% increase on March.

Over the month, the picture was different to that across the East of England, where prices decreased 0.7%.

Over the last year, the average sale price of property in Southend fell by £11,000 – putting the area 33rd among the East of England’s 45 local authorities with price data for annual growth.

The highest annual growth in the region was in East Cambridgeshire, where property prices increased on average by 7.8%, to £351,000. At the other end of the scale, properties in Watford lost 8.6% of their value, giving an average price of £376,000.

First steps on the property ladder

First-time buyers in Southend spent an average of £264,000 on their property – £9,000 less than a year ago, but £26,000 more than in April 2019.

By comparison, former owner-occupiers paid £364,300 on average in April – 38% more than first-time buyers.

Property types

Owners of flats saw the biggest rise in property prices in Southend in April – they increased 0.5%, to £203,313 on average. Over the last year, prices dropped by 3.8%.

Among other types of property

Detached: down 0.2% monthly; down 4.4% annually; £589,647 average Semi-detached: up 0.5% monthly; down 2.3% annually; £404,612 average Terraced: up 0.2% monthly; down 2.9% annually; £312,555 average How do property prices in Southend compare?

Buyers paid 6.2% less than the average price in the East of England (£335,000) in April for a property in Southend. Across the East of England, property prices are higher than those across the UK, where the average cost is £281,000.

The most expensive properties in the East of England were in St Albans – £578,000 on average, and 1.8 times the price as in Southend. St Albans properties cost 2.7 times the price as homes in Great Yarmouth (£218,000 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 Southend: £314,796
  • The East of England: £335,448 UK: £281,373
  • Annual change to April Southend: -3.3%
  • The East of England: +0.4% UK: +1.1%
  • Highest and lowest annual growth in the East of England East Cambridgeshire: +7.8% Watford: -8.6%