House prices dropped by 2.4% in Woking in April, new figures show.

The drop contributes to the longer-term trend, which has seen property prices in the area suffer a 2.8% annual decline.

The average Woking house price in April was £450,437. Land Registry figures show a 2.4% decrease on March.

Over the month, the picture was different to that across the South East, where prices increased 1.4%, and Woking was lower than the 0.3% rise for the UK as a whole.

Over the last year, the average sale price of property in Woking fell by £13,000 – putting the area 37th among the South East’s 64 local authorities with price data for annual growth.

The highest annual growth in the region was in West Oxfordshire, where property prices increased on average by 7.8%, to £399,000. At the other end of the scale, properties in Canterbury lost 10.3% of their value, giving an average price of £322,000.

First steps on the property ladder

First-time buyers in Woking spent an average of £333,000 on their property – £7,700 less than a year ago, but £31,100 more than in April 2019.

By comparison, former owner-occupiers paid £550,600 on average in April – 65.3% more than first-time buyers.

Property types

Owners of detached houses saw the biggest fall in property prices in Woking in April – they dropped 2.8% in price, to £926,233 on average. Over the last year, prices dropped by 4.2%.

Among other types of property:

How do property prices in Woking compare?

Buyers paid 20.1% more than the average price in the South East (£375,000) in April for a property in Woking. Across the South East, property prices are high compared to those across the UK, where the average cost is £281,000.

The most expensive properties in the South East were in Elmbridge – £632,000 on average, and 1.4 times the price as in Woking. Elmbridge properties cost 2.7 times the price as homes in Gosport (£237,000 average), at the other end of the scale.

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

Factfile

Average property price in April

Annual change to April

Highest and lowest annual growth in the South East