House prices dropped by 2.1% in East Hampshire in July, new figures show.

But the drop does not reverse the longer-term trend, which has seen property prices in the area grow by 2% over the last year.

The average East Hampshire house price in July was £432,277. Land Registry figures show a 2.1% decrease on June.

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

Over the last year, the average sale price of property in East Hampshire rose by £8,300 – putting the area 23rd 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 East Hampshire spent an average of £314,500 on their property – £7,100 more than a year ago, and £45,700 more than in July 2019.

By comparison, former owner-occupiers paid £498,900 on average in July – 58.6% more than first-time buyers.

Property types

Owners of detached houses saw the biggest fall in property prices in East Hampshire in July – they dropped 2.2% in price, to £664,571 on average. But over the last year, prices rose by 1.2%.

Among other types of property:

How do property prices in East Hampshire compare?

Buyers paid 13.4% more than the average price in the South East (£381,000) in July for a property in East Hampshire. 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 1.6 times the price as in East Hampshire. 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