Crawley house prices held steady in May

House prices remained steady in Crawley in May, new figures show.

The lack of movement maintains the longer-term trend, which has seen property prices in the area grow by 4.5% over the last year.

The average Crawley house price in May was £329,164, Land Registry figures show – largely unchanged from April.

Over the month, the picture was different to that across the South East, where prices decreased 0.9%.

Over the last year, the average sale price of property in Crawley rose by £14,000 – putting the area 16th among the South East’s 64 local authorities with price data for annual growth.

The highest annual growth in the region was in Winchester, where property prices increased on average by 10%, to £518,000. At the other end of the scale, properties in Elmbridge lost 4.7% of their value, giving an average price of £665,000.

First steps on the property ladder

First-time buyers in Crawley spent an average of £297,000 on their property – £13,000 more than a year ago, and £39,000 more than in May 2018.

By comparison, former owner-occupiers paid £373,000 on average in May – 25.5% more than first-time buyers.

Property types

Owners of flats saw the biggest rise in property prices in Crawley in May – they increased 0.4%, to £208,724 on average. Over the last year, prices rose by 5.5%.

Among other types of property:

• Detached: down 0.3% monthly; up 4.3% annually; £669,429 average
• Semi-detached: down 0.2% monthly; up 4.4% annually; £428,887 average
• Terraced: down 0% monthly; up 3.5% annually; £325,775 average

How do property prices in Crawley compare?

Buyers paid 15.4% less than the average price in the South East (£389,000) in May for a property in Crawley. Across the South East, property prices are high compared to those across the UK, where the average cost is £286,000.

The most expensive properties in the South East were in Elmbridge – £665,000 on average, and twice the price as in Crawley. Elmbridge properties cost 2.7 times the price as homes in Southampton (£243,000 average), at the other end of the scale.

The highest property prices across the UK were in Kensington and Chelsea.

Factfile

Average property price in May

• Crawley: £329,164
• The South East:£388,873
• UK: £285,861

Annual growth to May

• Crawley: +4.5%
• The South East: +1.5%
• UK: +1.9%

Highest and lowest annual growth in the South East

• Winchester: +10%
• Elmbridge: -4.7%