HOUSE prices in Braintree have risen by £24,000 over the last year, new figures reveal.

Over the last year, the average sale price of property in Braintree has risen by £24,000- putting the area eighth among the East of England’s 50 local authorities for annual growth.

In January, the average house price was £299,991, Lane Registry figures show, a slight increase of 0.7 per cent on December.

Over the month, the picture was similar to that across the East of England, where prices increased 0.7%, and Braintree outperformed the 0.5% drop for the UK as a whole.

This rise puts Braintree eighth among the East of England's 50 local authorities for annual growth.

The winners and losers

Owners of semi-detached houses saw the biggest improvement in property prices in Braintree in January.

Increasing 1.2 per cent to £310,693 on average, and over the last year rising by 9 per cent.

Among other types of property:

  • Detached: up 0.7% monthly; up 9.6% annually; £504,604 average
  • Terraced: up 0.7% monthly; up 9.3% annually; £258,694 average
  • Flats: down 0.2% monthly; up 4.5% annually; £163,822 average

First homes

First-time buyers in Braintree spent an average of £249,000 on their property- £18,000 more than a year ago, and a staggering £47,000 more than in December 2015.

How do prices compare?

Buyers in Braintree paid 3.4 per cent less than the average price in the East of England (£311,000) in January.

The most expensive properties in the East of England were in Three Rivers- £533,000 on average, and 1.8 times as much as in Braintree.

The highest property prices in the UK were in Kensington and Chelsea, where the average January sale price is £1.3 million.