House prices remained steady in Woking in March, new figures show.

The lack of movement maintains the longer-term trend, which has seen property prices in the area grow by 0.6% over the last year.

The average Woking house price in March was £467,989. Land Registry figures show largely unchanged from February.

Over the month, the picture was similar to that across the South East, where prices increased 0.3%, and Woking was lower than the 0.7% rise for the UK as a whole.

Over the last year, the average sale price of property in Woking rose by £2,800 – putting the area 19th 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 6%, to £392,000. At the other end of the scale, properties in Canterbury lost 12.1% 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 £346,400 on their property – £4,400 more than a year ago, and £38,900 more than in March 2019.

By comparison, former owner-occupiers paid £571,200 on average in March – 64.9% more than first-time buyers.

Property types

Owners of flats saw the biggest rise in property prices in Woking in March – they increased 0.8%, to £274,649 on average. Over the last year, prices rose by 2.1%.

Among other types of property:

  • Detached: down 0.1% monthly; down 0.6% annually; £964,141 average
  • Semi-detached: down 0.4% monthly; up 0.5% annually; £510,066 average
  • Terraced: down 0.4% monthly; up 0.1% annually; £405,117 average

How do property prices in Woking compare?

Buyers paid 25.4% more than the average price in the South East (£373,000) in March for a property in Woking. Across the South East, property prices are high compared to those across the UK, where the average cost is £283,000.

The most expensive properties in the South East were in Elmbridge – £645,000 on average, and 1.4 times the price as in Woking. Elmbridge properties cost 2.7 times the price as homes in Gosport (£239,000 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 March

  • Woking: £467,989
  • The South East: £373,223
  • UK: £282,776

Annual change to March

  • Woking: +0.6%
  • The South East: -1.3%
  • UK: +1.8%

Highest and lowest annual growth in the South East

  • West Oxfordshire: +6%
  • Canterbury: -12.1%