Bedford house prices increased in September, new figures show

Owners of detached houses saw the biggest improvement in property prices

Monday, 22nd November 2021, 12:15 pm

House prices increased by 1 per cent in Bedford in September, new figures show.

The boost contributes to the longer-term trend, which has seen property prices in the area achieve 9.8 per cent annual growth.

The average Bedford house price in September was £316,837, Land Registry figures show – a 1 per cent increase on August.

The average Bedford house price in September was £316,837, Land Registry figures show – a 1% increase on August

Over the month, the picture was less good than that across the East of England, where prices increased 1.7 per cent, and Bedford underperformed compared to the 2.5 per cent rise for the UK as a whole.

Over the last year, the average sale price of property in Bedford rose by £28,000 – putting the area 17th among the East of England’s 50 local authorities for annual growth.

The best annual growth in the region was in Maldon, Essex, where property prices increased on average by 16.1 per cent, to £382,000. At the other end of the scale, properties in East Cambridgeshire gained 0.5 per cent in value, giving an average price of £295,000.

WINNERS AND LOSERS

Owners of detached houses saw the biggest improvement in property prices in Bedford in September – they increased 1.3 per cent, to £522,750 on average. Over the last year, prices rose by 11.1 per cent.

Among other types of property:

Semi-detached: up 1 per cent monthly; up 10.1 per cent annually; £316,486 average

Terraced: up 0.7 per cent monthly; up 8.9 per cent annually; £245,747 average

Flats: up 1 per cent monthly; up 7.5 per cent annually; £171,724 average

FIRST STEPS ON THE PROPERTY LADDER

First-time buyers in Bedford spent an average of £255,000 on their property – £21,000 more than a year ago, and £37,000 more than in September 2016.

By comparison, former owner-occupiers paid £362,000 on average in September – 41.8 per cent more than first-time buyers.

HOW DO PROPERTY PRICES IN BEDFORD COMPARE?

Buyers paid 3.4 per cent less than the average price in the East of England (£328,000) 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 £270,000.

The most expensive properties in the East of England were in St Albans – £569,000 on average, and 1.8 times as much as in Bedford. St Albans properties cost three times as much as homes in Great Yarmouth (£193,000 average), at the other end of the scale.

The highest property prices across the UK were in Kensington and Chelsea.