With its close proximity to London, property price growth in the South East has mirrored events in the capital, and looks set to continue. Prices in commuter towns in Surrey, Hampshire and Kent are likely to benefit the most.
1. The statistics
- Average price of a property in the South East: £220,872
- Monthly change: 0%
- Annual change: 8.7%
2. The outlook
- Supply
Lack of housing supply is making it more difficult for people to find a suitable place to live, and pushing house prices up. According to the Land Registry, Brighton and Hove experienced the highest annual price change in the UK outside of London, with an increase of 16.5%.
- Key worker affordability
Unrelenting price increases are having an effect on first time buyer affordability, especially for key workers in the region. A recent report by the Halifax indicated that Surrey is the least affordable county in the UK for key workers.
- Million pound properties
Premium properties are selling for big bucks. In 2006, there were 2,023 sales where properties sold for a million pounds or more.
3. Place to watch
Maidstone in Kent. Having been awarded 'new growth point' status by the government, significant regeneration has been planned for the town including new housing, employment and facilities.
The housing market by region
Useful links
- Recent property sales - see what's sold in Coventry
- Average property prices - examine local trends in Coventry
- Find a property - look for your new home in Coventry
- Property valuation reports - get an instant home valuation for £19.95
average price, annual % change
- Bedfordshire: £179,900, +6.8%
- Buckinghamshire: £264,973, +10.8%
- East Sussex: £195,118, +8.3%
- Essex: £199,176, +7.1%
- Greater London: £335,658, +15.3%
- Hampshire: £219,494, +8.7%
- Hertfordshire: £243,591, +9.4%
- Kent: £197,861, +7%
- Medway: £159,111, +7.4%
- Oxfordshire: £241,119, +8.8%
- Surrey: £296,321, +9.2%
- West Berkshire: £233,654, +9.7%
- West Sussex: £221,321, +8.9%
Source: Land Registry, May 2007
Your comments (3)
martyn lewis (Test Valley), on 27/10/2007 at 15:14
We never know for sure whether Romsey in Hampshire is Southwest or South East, as it is really Central Southern England, and possibly falls between two Stools.
UpMyStreet (Westminster), on 24/07/2007 at 16:12
Hi there,
We're referring here to figures provided in the Land Registry's monthly House Price Index. This data is collated at a county level only, but 'Berkshire' has been classified as a local authority location by them - meaning the don't provide data for Berkshire in this instance. They do however calculate a figure for West Berkshire.
Hope this helps explain.
UpMyStreet
Anonymous (Kingston upon Thames), on 05/07/2007 at 09:34
Why are there no figures for Berkshire in the average price figures?
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