HOUSE prices across the district have dropped slightly, figures reveal.
The average house price in Braintree in February was £294,544, a 0.8 per cent decrease on January.
Over the last year, the average sale price of property in the district rose by £12,000- putting the area 41st among the East of England's 50 local authorities for annual growth.
But, first-time buyers were spending an average of £245,200 on their property, £9,300 more than a year ago.
The drop does not reverse the longer-term trend, which has seen property prices in the area achieve 4.2 per cent annual growth.
However, buyers paid 3.9 per cent less than the average price in the East of England, which is £306,000, in February for a property in Braintree.
Across the East of England, property prices are higher than those across the UK, where the average cost £250,000.
- Average property price in February
Braintree: £294,544
The East of England: £306,346
UK: £250,341
- Annual growth to February
Braintree: +4.2%
The East of England: +6%
UK: +8.6%
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