Horsham house prices increased in August

General view of estate agents signs outside a block of flats in Basingstoke, Hampshire.

House prices increased by 1.8% in Horsham in August, new figures show.

The rise contributes to the longer-term trend, which has seen property prices in the area grow by 2.6% over the last year.

The average Horsham house price in August was £459,510, Land Registry figures show – a 1.8% increase on July.

Over the month, the picture was different to that across the South East, where prices decreased 0.1%, and Horsham was above the 0.3% rise for the UK as a whole.

Over the last year, the average sale price of property in Horsham rose by £12,000 – putting the area 10th among the South East’s 64 local authorities with price data for annual growth.

The highest annual growth in the region was in Oxford, where property prices increased on average by 6.8%, to £508,000. At the other end of the scale, properties in Hastings lost 10.4% of their value, giving an average price of £261,000.

First steps on the property ladder

First-time buyers in Horsham spent an average of £333,900 on their property – £8,200 more than a year ago, and £56,700 more than in August 2018.

By comparison, former owner-occupiers paid £550,000 on average in August – 64.8% more than first-time buyers.

Property types

Owners of semi-detached houses saw the biggest rise in property prices in Horsham in August – they increased 2.1%, to £471,216 on average. Over the last year, prices rose by 3%.

Among other types of property:

Detached: up 1.9% monthly; up 2.9% annually; £766,046 average
Terraced: up 1.9% monthly; up 2.1% annually; £370,272 average
Flats: up 1% monthly; up 1.7% annually; £219,837 average

How do property prices in Horsham compare?

Buyers paid 16.8% more than the average price in the South East (£393,000) in August for a property in Horsham. Across the South East, property prices are high compared to those across the UK, where the average cost is £291,000.

The most expensive properties in the South East were in Elmbridge – £706,000 on average, and 1.5 times the price as in Horsham. Elmbridge properties cost 2.8 times the price as homes in Southampton (£249,000 average), at the other end of the scale.

The highest property prices across the UK were in Kensington and Chelsea (£1.4 million).

Factfile

Average property price in August

Horsham: £459,510
The South East:£393,417
UK: £291,044

Annual change to August

Horsham: +2.6%
The South East: -0.6%
UK: +0.2%

Highest and lowest annual growth in the South East

Oxford: +6.8%
Hastings: -10.4%