House prices in the Braintree district dropped more than the average for the East of England in February, latest figures show.

The average Braintree house price in February was £346,518, Land Registry figures show – a 1.6 per cent decrease on January.

But the 1.6 per cent fall does not reverse the longer-term trend, which has seen property prices in the area see almost five per cent annual growth.

Over the last year, the average sale price of property in the district rose by £16,000.

Winners and losers

Owners of terraced houses fared worst in February – dropping 1.9 per cent in price, to £295,205 on average. But over the last year, prices rose by 4.5 per cent.

Among other types of property

Detached: down 1.3 per cent monthly and up 5.9 per cent annually to £598,096 on average.

Semi-detached: down 1.7 per cent monthly and up five per cent annually to £360,299

Flats: down 1.7 per cent monthly and up 2.5 per cent annually to £180,426

First steps on the property ladder

First-time buyers in Braintree spent an average of £286,000 on their property – £12,000 more than a year ago, and £46,000 more than in February 2018.

Fact file

Average property price in February

  • Braintree: £346,518
  • East of England: £357,697
  • UK: £287,506

Annual growth to February

  • Braintree: +4.9%
  • East of England: +5.6%
  • UK: +5.5%