House prices dropped by 0.3% – more than the average for the East of England – in Tendring in November, new figures show.

But the drop does not reverse the longer-term trend, which has seen property prices in the area achieve 2% annual growth.

The average Tendring house price in November was £228,767, Land Registry figures show – a 0.3% decrease on October.

Over the month, the picture was similar to that across the East of England, where prices decreased 0.3%, and Tendring underperformed compared to the 1.2% rise for the UK as a whole.

Over the last year, the average sale price of property in Tendring rose by £4,400 – putting the area 40th among the East of England’s 50 local authorities for annual growth.

The best annual growth in the region was in East Suffolk, where property prices increased on average by 11.1%, to £271,000. At the other end of the scale, properties in Broxbourne lost 0.7% of their value, giving an average price of £347,000.

Winners and Losers

Owners of flats fared worst in Tendring in November – they dropped 0.5% in price, to £125,645 on average. Over the last year, prices dropped by 1.9%.

  • Among other types of property:
  • Detached: down 0.2% monthly; up 2.9% annually; £313,058 average
  • Semi-detached: down 0.4% monthly; up 2.2% annually; £219,842 average
  • Terraced: down 0.2% monthly; up 2.1% annually; £177,919 average

First steps on the property ladder

First-time buyers in Tendring spent an average of £191,800 on their property – £2,600 more than a year ago, and £39,800 more than in October 2015.

By comparison, former owner-occupiers paid £250,400 on average in November – 30.5% more than first-time buyers.

How do property prices in Tendring compare?

Buyers paid 24.4% less than the average price in the East of England (£303,000) in November for a property in Tendring. Across the East of England, property prices are lower than those across the UK, where the average cost £250,000.

The most expensive properties in the East of England were in St Albans – £533,000 on average, and 2.3 times as much as in Tendring. St Albans properties cost three times as much as homes in Great Yarmouth (£179,000 average), at the other end of the scale.

The highest property prices across the UK were in Kensington and Chelsea, where the average November sale price of £1.5 million could buy 16 properties in Blaenau Gwent (average £95,000).

Factfile

Average property price in November

  • Tendring: £228,767
  • The East of England: £302,624
  • UK: £249,633

Annual growth to November

  • Tendring: +2%
  • The East of England: +4.8%
  • UK: +7.6%

Best and worst annual growth in the East of England

  • East Suffolk: +11.1%
  • Broxbourne: -0.7%