HOUSE prices in Reading increased more than average for the South East in August, new figures show.

But the boost does not reverse the longer-term trend, which has seen property prices in the area suffer a 1.8% annual decline.

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The average Reading house price in August was £295,353, Land Registry figures show – a 1.5% increase on July.

Over the month, the picture was better than that across the South East, where prices increased 0.8%, and Reading outperformed the 0.8% rise for the UK as a whole.

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Over the last year, the average sale price of property in Reading remained level – putting the area 46th among the South East’s 67 local authorities for annual growth.

The best annual growth in the region was in Tonbridge and Malling, where properties increased on average by 6.1%, to £385,000. At the other end of the scale, properties in Bracknell Forest dropped 6.8% in value, giving an average price of £325,000.

Winners and Losers

Owners of detached houses saw the biggest improvement in property prices in Reading in August – they increased 1.9%, to £600,556 on average– but over the last year, prices dropped by 0.8%.

Among other types of property:

  • Semi-detached: up 1.7% monthly; down 0.7% annually; £373,103 average
  • Terraced: up 1.6% monthly; down 1.2% annually; £294,976 average
  • Flats: up 1% monthly; down 3.3% annually; £215,021 average

First steps on the property ladder

First-time buyers in Reading spent an average of £265,000 on their property – £5,700 less than a year ago, and £49,900 more than in August 2014.

By comparison, former owner-occupiers paid £ 331,300 on average in August – 25.0% more than first-time buyers.

How do property prices in Reading compare?

Buyers paid 9.5% less than the average price in the South East (£326,000) in August for a property in Reading. Across the South East, property prices are high compared to those across the UK, where the average cost £235,000.

The most expensive properties in the South East were in South Bucks – £586,000 on average, and twice as much as in Reading. South Bucks properties cost 2.8 times as much as homes in Southampton (£209,000 average), at the other end of the scale.

The highest property prices across the UK were in Kensington and Chelsea, where the average August sale price of £1.3 million could buy 15 properties in Burnley (average £84,000).


Average property price in August

Reading: £295,353

The South East: £326,232

UK: £234,853

Annual growth to August

Reading: -1.8%

The South East: -0.6%

UK: +1.3%

Best and worst annual growth in the South East

Tonbridge and Malling: +6.1%

Bracknell Forest: -6.8%