House prices increased by 1.8% – more than the average for the South East – in Woking in July, new figures show.

The rise contributes to the longer-term trend, which has seen property prices in the area grow by 0.1% over the last year.

The average Woking house price in July was £457,214. Land Registry figures show a 1.8% increase on June.

Over the month, the picture was different to that across the South East, where prices increased 0.1%, and Woking was above the 0.6% rise for the UK as a whole.

Over the last year, the average sale price of property in Woking rose by £650 – putting the area 34th among the South East’s 64 local authorities with price data for annual growth.

The highest annual growth in the region was in Cherwell, where property prices increased on average by 9.8%, to £371,000. At the other end of the scale, properties in Dover lost 7.2% of their value, giving an average price of £287,000.

First steps on the property ladder

First-time buyers in Woking spent an average of £336,550 on their property – £460 more than a year ago, and £27,600 more than in July 2019.

By comparison, former owner-occupiers paid £560,870 on average in July – 66.7% more than first-time buyers.

Property types

Owners of terraced houses saw the biggest rise in property prices in Woking in July – they increased 2%, to £400,874 on average. Over the last year, prices rose by 1.1%.

Among other types of property:

How do property prices in Woking compare?

Buyers paid 19.9% more than the average price in the South East (£381,000) in July for a property in Woking. Across the South East, property prices are high compared to those across the UK, where the average cost is £290,000.

The most expensive properties in the South East were in Elmbridge – £679,000 on average, and 1.5 times the price as in Woking. Elmbridge properties cost 2.8 times the price as homes in Portsmouth (£242,000 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 July

Annual growth to July

Highest and lowest annual growth in the South East