House prices increased by 3.7% – more than the average for the South East – in Waverley in June, new figures show.

The rise contributes to the longer-term trend, which has seen property prices in the area grow by 2.3% over the last year.

The average Waverley house price in June was £535,675, Land Registry figures show – a 3.7% increase on May.

Over the month, the picture was different to that across the South East, where prices increased 1%, and Waverley was above the 0.5% rise for the UK as a whole.

Over the last year, the average sale price of property in Waverley rose by £12,000 – putting the area 18th among the South East’s 64 local authorities with price data for annual growth.

The highest annual growth in the region was in Oxford, where property prices increased on average by 10.3%, to £470,000. At the other end of the scale, properties in Epsom and Ewell lost 7.7% of their value, giving an average price of £502,000.

First steps on the property ladder

First-time buyers in Waverley spent an average of £392,400 on their property – £9,300 more than a year ago, and £60,000 more than in June 2019.

By comparison, former owner-occupiers paid £627,700 on average in June – 60% more than first-time buyers.

Property types

Owners of terraced houses saw the biggest rise in property prices in Waverley in June – they increased 4.1%, to £415,217 on average. Over the last year, prices rose by 2.4%.

Among other types of property:

How do property prices in Waverley compare?

Buyers paid 40% more than the average price in the South East (£383,000) in June for a property in Waverley. Across the South East, property prices are high compared to those across the UK, where the average cost is £288,000.

The most expensive properties in the South East were in Elmbridge – £652,000 on average, and 1.2 times the price as in Waverley. Elmbridge properties cost 2.7 times the price as homes in Gosport (£243,000 average), at the other end of the scale.

The highest property prices across the UK were in (insert LA with highest house price).

Factfile

Average property price in June

Annual growth to June

Highest and lowest annual growth in the South East