Data has suggested that one posh county has avoided a slump in property prices in areas surrounding it as a boom appears to have ended.
The Home Counties surrounding London are typically more well off than many other places in the UK and home to some expensive properties.
However, according to Rightmove, average price tags have taken a dip in recent years. Reports suggest that homeowners in the counties are being forced to accept £150,000 under their asking price. It is also said that properties costing £1million or more are selling for 9.7% less than they were originally listed for.
In Berkshire, though, the site says the overall average house price over the last year was £541,406.
The majority of properties sold in the county were terraced, and these sold for an average price of £625,337.
Semi-detached properties sold for £476,429. Detached properties fetched £756,943 on average.
Historical sold prices were 11% up on the previous year, and 10% up on the 2022 peak of £492,793.
Meanwhile, prices were down in Buckinghamshire, Hertfordshire, Essex, Kent, East Sussex, West Sussex, Oxfordshire and Surrey.
The Office for National Statistics (ONS) says the average house price in West Berkshire was £403,000 in November 2024 – provisionally.
This was up slightly (1.3%) from November 2023. This represented, experts say, a similar to the rise in the South East in general over the same period.
The ONS also details that private rents rose to an average of £1,236 in December 2024. This was an annual increase of 6.2% from £1,163 in December 2023.
But the figure was lower than the rise in the South East in general (7.9%) over the year.
The average price paid by first-time buyers, data wizards add, was £321,000 in November 2024 – a provisional figure.
This was 2.3% higher than the average of £314,000 in November 2023 – a revised stat.
Meanwhile, for homes bought with a mortgage, the average house price was £411,000 in November 2024 – a provisional reading.
This was 1.4% higher than the average of £405,000 in November 2023 – also a revised figure.
