House prices rose slightly in Watford in March, new figures show.
Prices rose 0.7 percent and that rise contributes to the longer-term trend, which has seen house prices in the region grow to an annual growth of 6.6 percent.
The average house price in Watford in March was Â£ 367,700, according to land register figures – a 0.7% increase from February.
Over the month, the situation was similar to that in the east of England, where prices rose 1.2% and Watford underperformed the 1.8% increase for the whole UK.
Over the past year, the average selling price of properties in Watford has increased by Â£ 23,000, placing the region 33rd among the 50 local authorities in the East of England for annual growth.
A general view over an area of ââWatford. Credit: Watford Borough Council
The region’s best annual growth was in east Suffolk, where house prices rose on average 17.3 percent to Â£ 282,000. At the other end of the scale, Welwyn Hatfield’s properties gained 0.1% in value, an average price of Â£ 396,000.
Among other types of goods:
â¢ Detached: up 0.8% per month; up 9.5% per year; Average Â£ 878,208
â¢ Semi-detached: up 0.8% per month; up 8.5% per year; Average Â£ 490,822
â¢ Apartments: up 0.2% per month; growing by 3.4% per year; â¬ 28,512 Average
Apartments at Ascot Road in Watford under construction. Credit: Stephen Danzig / Watford Observer Camera Club
Meanwhile, first-time buyers in Watford spent an average of Â£ 325,000 on their property – Â£ 18,000 more than a year ago and Â£ 31,000 more than in March 2016.
By comparison, former homeowners paid an average of Â£ 425,000 in March, 30.5% more than first-time buyers.
Overall, buyers paid 16.7% more than the average price in the east of England (Â£ 315,000) in March for a property in Watford.
In the East, house prices are high compared to those in the UK, where the average cost is Â£ 256,000.
The most expensive properties in the east of England were in Three Rivers – Â£ 544,000 on average and 1.5 times more than in Watford. Properties in Three Rivers cost three times as much as homes in Great Yarmouth (average Â£ 184,000) at the other end of the scale.