Hastings house prices increased in February
House prices increased by 1.2% in Hastings in February, new figures show.
The boost contributes to the longer-term trend, which has seen property prices in the area achieve 10.3% annual growth.
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Hide AdThe average Hastings house price in February was £302,233, Land Registry figures show – a 1.2% increase on January.
Over the month, the picture was better than that across the South East, where prices decreased 1.2%, and Hastings outperformed the 1% drop for the UK as a whole.
Over the last year, the average sale price of property in Hastings rose by £28,000 – putting the area ninth among the South East’s 64 local authorities with price data for annual growth.
The best annual growth in the region was in Maidstone, where property prices increased on average by 12.1%, to £367,000. At the other end of the scale, properties in Oxford gained just 0.4% in value, giving an average price of £460,000.
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Hide AdWinners and Losers
Owners of detached houses saw the biggest improvement in property prices in Hastings in February – they increased 1.6%, to £585,667 on average. Over the last year, prices rose by 11%.
Among other types of property:
First steps on the property ladder
First-time buyers in Hastings spent an average of £269,000 on their property – £24,000 more than a year ago, and £84,000 more than in February 2018.
By comparison, former owner-occupiers paid £335,000 on average in February – 24.5% more than first-time buyers.
How do property prices in Hastings compare?
Buyers paid 23.6% less than the average price in the South East (£396,000) in February for a property in Hastings. Across the South East, property prices are low compared to those across the UK, where the average cost £288,000.
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Hide AdThe most expensive properties in the South East were in Elmbridge – £721,000 on average, and 2.4 times as much as more than in Hastings. Elmbridge properties cost 2.8 times as much as homes in Southampton (£255,000 average), at the other end of the scale.
The highest property prices across the UK were in 160.
Factfile
Average property price in February
- Hastings: £302,233
- The South East:£395,571
- UK: £287,506
Annual growth to February
- Hastings: +10.3%
- The South East: +5.8%
- UK: +5.5%
Best and worst annual growth in the South East
- Maidstone: +12.1%
- Oxford: +0.4%