Hastings house prices dropped more than South East average in April

House prices dropped by 1.3% – more than the average for the South East – in Hastings in April, new figures show. But the drop does not reverse the longer-term trend, which has seen property prices in the area grow by 6.4% over the last year. The average Hastings house price in April was £287,094, Land Registry figures show – a 1.3% decrease on March. Over the month, the picture was different to that across the South East, where prices decreased 0.5%, and Hastings was lower than the 0.5% rise for the UK as a whole. Over the last year, the average sale price of property in Hastings rose by £17,000 – putting the area 15th among the South East’s 64 local authorities with price data for annual growth. The highest annual growth in the region was in Dover, where property prices increased on average by 8.9%, to £330,000. At the other end of the scale, properties in Windsor and Maidenhead lost 1.4% of their value, giving an average price of £532,000. First steps on the property ladder First-time buyers in Hastings spent an average of £255,000 on their property – £14,000 more than a year ago, and £65,000 more than in April 2018. By comparison, former owner-occupiers paid £319,000 on average in April – 24.8% more than first-time buyers. Property types Owners of terraced houses saw the biggest fall in property prices in Hastings in April – they dropped 1.6% in price, to £291,935 on average. But over the last year, prices rose by 6.4%. Among other types of property: How do property prices in Hastings compare? Buyers paid 26.7% less than the average price in the South East (£392,000) in April for a property in Hastings. Across the South East, property prices are high compared to those across the UK, where the average cost £286,000. The most expensive properties in the South East were in Elmbridge – £679,000 on average, and 2.4 times the price as in Hastings. Elmbridge properties cost 2.8 times the price as homes in Southampton (£245,000 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 April Annual growth to April Highest and lowest annual growth in the South East