HOUSE prices dropped more than average for the East of England in Braintree in May, new figures show.

​But the ​drop ​does not reverse the longer-term trend, which has seen property prices in the area ​achieve 1.2 per cent annual growth​.

The average Braintree house price in May was £281,293, Land Registry figures show​ – a 1.6 per cent decrease on April.

Over the month, the picture was ​worse than that across the East of England, where prices ​decreased one per cent, and Braintree underperformed compared to the 0.3 per cent rise for the UK as a whole.

Over the last year, the average sale price of property in Braintree ​​rose by £3,400 – putting the ​area 17th among the East of England’s 45 local authorities for annual growth.

​The best annual growth in the region was in South Norfolk, where properties increased on average by 7.6 per cent to £279,000.

Owners of terraced houses fared worst in Braintree in May, dropping two per cent in price to £239,982 on average​. But over the last year, prices rose by 0.8 per cent.

Among other types of property:

Detached: down 1.6 per cent monthly, up 1.9 per cent annually to £471,562 on average

Semi-detached: down 1.4 per cent monthly, up 1.8 per cent annually to £291,041 on average

Flats: down 1.5 per cent monthly, down 0.1 per cent annually to £158,707 on average​

First steps on the property ladder

First-time buyers in Braintree spent an average of £​234,300 on their property – ​£2,200 more than a year ago, ​and ​£45,700 more than in May 2015.

By comparison, former owner-occupiers paid £​318,300 on average in May​ – 35.9 per cent more than first-time buyers.

How do property prices in Braintree compare?

Buyers paid 3.2 per cent less than the average price in the East of England (£291,000) in May for a property in Braintree. Across the East of England, property prices are higher than those across the UK, where the average cost is £236,000.

The most expensive properties in the East of England were in Three Rivers – £508,000 on average, and 1.8 times as much as in Braintree. Three Rivers properties cost three times as much as homes in Great Yarmouth (£172,000 average), at the other end of the scale.

The highest property prices across the UK were in Kensington and Chelsea, where the average May sale price of £1.4 million could buy 16 properties in Burnley (average £88,000).


Average property price in May

Braintree: £281,293

The East of England: £290,621

UK: £235,673

Annual growth to May

Braintree: +1.2%

The East of England: +0.7%

UK: +2.9%

Best and worst annual growth in the East of England

South Norfolk: +7.6%

Broxbourne: -4.6%