HOUSE prices increased by 3.3 per cent – more than the average for the South East – in Reading in December, new figures show.

The boost contributes to the longer-term trend, which has seen property prices in the area achieve 5.8 per cent annual growth.

The average Reading house price in December was £307,597, Land Registry figures show – a 3.3per cent increase on November.

Over the month, the picture was better than that across the South East, where prices increased 0.1 per cent, and Reading outperformed the 1.2 per cent rise for the UK as a whole.

Over the last year, the average sale price of property in Reading rose by £17,000 – putting the area 34th among the South East’s 70 local authorities for annual growth.

The best annual growth in the region was in Winchester, where property prices increased on average by 15.9 per cent, to £473,000. At the other end of the scale, properties in Eastleigh lost 1.5 per cent of their value, giving an average price of £285,000.

Winners and Losers

Owners of terraced houses saw the biggest improvement in property prices in Reading in December – they increased 3.5 per cent, to £310,407 on average. Over the last year, prices rose by 6.8 per cent.

Among other types of property:

Detached: up 3.2% monthly; up 7.6% annually; £636,703 average

Semi-detached: up 3.1% monthly; up 6.3% annually; £391,703 average

Flats: up 3.2% monthly; up 3.6% annually; £218,935 average

First steps on the property ladder

First-time buyers in Reading spent an average of £275,000 on their property – £14,000 more than a year ago, and £21,000 more than in November 2015.

By comparison, former owner-occupiers paid £347,000 on average in December – 26.1% more than first-time buyers.

How do property prices in Reading compare?

Buyers paid 9.8% less than the average price in the South East (£341,000) in December for a property in Reading. Across the South East, property prices are high compared to those across the UK, where the average cost £252,000.

The most expensive properties in the South East were in Elmbridge – £626,000 on average, and twice as much as in Reading. Elmbridge properties cost 2.9 times as much as homes in Southampton (£215,000 average), at the other end of the scale.

The highest property prices across the UK were in Kensington and Chelsea, where the average December sale price of £1.3 million could buy 13 properties in Burnley (average £98,000).

Factfile

Average property price in December

Reading: £307,597

The South East: £341,007

UK: £251,500

Annual growth to December

Reading: +5.8%

The South East: +6.1%

UK: +8.5%

Best and worst annual growth in the South East

Winchester: +15.9%

Eastleigh: -1.5%