HOUSE prices dropped in Braintree in July, new figures show.

​But the ​drop ​does not reverse the longer-term trend, which has seen property prices in the area ​achieve 0.9 per cent annual growth​.

The average Braintree house price in July was £283,256, Land Registry figures show​ – a 1.4 per cent decrease on June.

Over the month, the picture was ​worse than that across the East of England, where prices ​increased 0.2 per cent​, and Braintree underperformed compared to the 0.5 per cent rise for the UK as a whole.

Over the last year, the average sale price of property in Braintree ​​rose by £2,700 – putting the ​area 23rd among the East of England’s 47 local authorities for annual growth.

​The best annual growth in the region was in South Norfolk, where properties increased on average by 7.3 per cent, to £274,000.

At the other end of the scale, properties in Broxbourne dropped 4.5 per cent in value, giving an average price of £342,000.

Winners and Losers

Owners of detached houses fared worst in Braintree in July – they dropped 1.5% in price, to £471,845 on average​. But over the last year, prices rose by 1.1 per cent.

Among other types of property:

Semi-detached: down 1.2 per cent monthly; up 1.8 per cent annually to £293,642 on average.

Terraced: down 1.4 per cent monthly and up 1.2 per cent annually to £243,614 on average.

Flats: down 1.4 per cent monthly and down 1.4 per cent annually to £158,641 on average.

First steps on the property ladder

First-time buyers in Braintree spent an average of £​236,200 on their property – ​£1,800 more than a year ago, ​and ​£45,500 more than in July 2015.

By comparison, former owner-occupiers paid £​320,100 on average in July​ – 35.5 per cent more than first-time buyers.

How do property prices in Braintree compare?

​Buyers paid 3.9 per cent less than the average price in the East of England (£295,000) in July for a property in Braintree. Across the East of England, property prices are higher than those across the UK, where the average cost is £238,000.

The most expensive properties in the East of England were in Three Rivers – £517,000 on average, and 1.8 times as much as in Braintree. Three Rivers properties cost three times as much as homes in Great Yarmouth (£173,000 average), at the other end of the scale.

The highest property prices across the UK were in Kensington and Chelsea, where the average July sale price was £1.2 million.


Average property price in July

Braintree: £283,256

East of England: £294,876

UK: £237,963

Annual growth to July

Braintree: +0.9%

East of England: +1.2%

UK: +2.3%

Best and worst annual growth in the East of England

South Norfolk: +7.3%

Broxbourne: -4.5%