Rother house prices dropped slightly in December
House prices dropped slightly, by 0.7%, in Rother in December, new figures show.
But the drop does not reverse the longer-term trend, which has seen property prices in the area grow by 16.1% over the last year.
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Hide AdThe average Rother house price in December was £390,572, Land Registry figures show – a 0.7% decrease on November.
Over the month, the picture was different to that across the South East, where prices increased 0.4%, and Rother was lower than the 0.4% drop for the UK as a whole.
Over the last year, the average sale price of property in Rother rose by £54,000 – putting the area fifth among the South East’s 64 local authorities with price data for annual growth.
The highest annual growth in the region was in Maidstone, where property prices increased on average by 18.6%, to £372,000. At the other end of the scale, properties in Tandridge gained 3.3% in value, giving an average price of £530,000.
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Hide AdThe average UK house price was £294,000 in December 2022, which was £26,000 higher than 12 months earlier.
It meant prices increased by 9.8% annually in December, slowing from 10.6% annual growth in November, according to the Office for National Statistics.
First steps on the property ladder
First-time buyers in Rother spent an average of £305,000 on their property – £43,000 more than a year ago, and £78,000 more than in December 2017.
By comparison, former owner-occupiers paid £436,000 on average in December – 42.6% more than first-time buyers.
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Owners of detached houses saw the biggest fall in property prices Rother in December – they dropped 0.9% in price, to £618,356 on average. But over the last year, prices rose by 15.6%.
Among other types of property:
Semi-detached: down 0.6% monthly; up 18.2% annually; £391,263 averageTerraced: down 0.8% monthly; up 18% annually; £319,597 averageFlats: down 0.5% monthly; up 13.9% annually; £206,907 average
How do property prices in Rother compare?
Buyers paid 3.4% less than the average price in the South East (£404,000) in December for a property in Rother. Across the South East, property prices are lower than those across the UK, where the average cost £294,000.
The most expensive properties in the South East were in Elmbridge – £721,000 on average, and 1.8 times as much as more than in Rother. Elmbridge properties cost 2.8 times as much as homes in Gosport (£259,000 average), at the other end of the scale.
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Factfile
Average property price in December
Rother: £390,572The South East:£404,229UK: £294,329
Annual growth to December
Rother: +16.1%The South East: +10.1%UK: +9.8%
Highest and lowest annual growth in the South East
Maidstone: +18.6%Tandridge: +3.3%