Crawley house prices increased more than South East average in August, new figures show
House prices increased by 2.5% – more than the average for the South East – in Crawley in August, new figures show.
The boost contributes to the longer-term trend, which has seen property prices in the area achieve 6.3% annual growth.
The average Crawley house price in August was £296,047, Land Registry figures show – a 2.5% increase on July.
Over the month, the picture was better than that across the South East, where prices increased 1.9%, but Crawley underperformed compared to the 2.9% rise for the UK as a whole.
Over the last year, the average sale price of property in Crawley rose by £18,000 – putting the area 54th among the South East’s 70 local authorities for annual growth.
The best annual growth in the region was in Rother, where property prices increased on average by 18.8%, to £348,000. At the other end of the scale, properties in Reigate and Banstead gained 0.3% in value, giving an average price of £414,000.
Winners and Losers
Owners of semi-detached houses saw the biggest improvement in property prices in Crawley in August – they increased 3.3%, to £386,709 on average. Over the last year, prices rose by 8.7%.
Among other types of property:
- Detached: up 2.5% monthly; up 7.2% annually; £591,083 average
- Terraced: up 2.2% monthly; up 5.8% annually; £292,223 average
- Flats: up 2.5% monthly; up 5.3% annually; £193,303 average
First steps on the property ladder
First-time buyers in Crawley spent an average of £267,000 on their property – £15,000 more than a year ago, and £20,000 more than in August 2016.
By comparison, former owner-occupiers paid £335,000 on average in August – 25.2% more than first-time buyers.
How do property prices in Crawley compare?
Buyers paid 17.3% less than the average price in the South East (£358,000) in August for a property in Crawley. Across the South East, property prices are higher than those across the UK, where the average cost £264,000.
The most expensive properties in the South East were in Elmbridge – £666,000 on average, and 2.2 times as much as in Crawley. Elmbridge properties cost three times as much as homes in Southampton (£221,000 average), at the other end of the scale.
The highest property prices across the UK were in Kensington and Chelsea.
Average property price in August
The South East: £358,070
Annual growth to August
The South East: +8.7%
Best and worst annual growth in the South East
Reigate and Banstead: +0.3%