Bedford house prices increased in September, new figures show

House prices increased in Bedford in September - with the average house price recorded as £287,735.

The boost contributes to the longer-term trend, which has seen property prices in the area achieve 0.9 per cent annual growth.

The average Bedford house price increased by 1.7 per cent on August, Land Registry figures show.

Over the last year, the average sale price of property in Bedford rose by £2,600 – putting the area 30th among the East of England’s 47 local authorities for annual growth.

WINNERS AND LOSERS

Owners of detached houses saw the biggest improvement in property prices in Bedford in September – they increased 2.4 per cent, to £470,353 on average. Over the last year, prices rose by 1.8 per cent.

Among other types of property:

Semi-detached: up 1.3 per cent monthly; up 2 per cent annually; £286,772 average

Terraced: up 1.5 per cent monthly; up 1.3 per cent annually; £225,097 average

Flats: up 1.4 per cent monthly; down 3.4 per cent annually; £157,849 average

FIRST STEPS ON THE PROPERTY LADDER

First-time buyers in Bedford spent an average of £​232,540 on their property – ​£770 more than a year ago, ​and ​£43,330 more than in Sep-15.

By comparison, former owner-occupiers paid £​327,390 on average in September​ – 40.8 per cent more than first-time buyers.

HOW DO PROPERTY PRICES IN BEDFORD COMPARE?

​Buyers paid 5.9 per cent less than the average price in the East of England (£306,000) in September for a property in Bedford. Across the East of England, property prices are higher than those across the UK, where the average cost £245,000.

The most expensive properties in the East of England were in St Albans – £530,000 on average, and 1.8 times as much as in Bedford. St Albans properties cost three times as much as homes in Great Yarmouth (£178,000 average), at the other end of the scale.

The highest property prices across the UK were in Kensington and Chelsea, where the average September sale price of £1.3 million could buy 15 properties in Burnley (average £88,000).