Barking and Dagenham house prices dropped in June

General view of estate agents signs outside a block of flats in Basingstoke, Hampshire.

House prices dropped by 1.9% in Barking and Dagenham in June, new figures show.

But the drop does not reverse the longer-term trend, which has seen property prices in the area grow by 0.6% over the last year.

The average Barking and Dagenham house price in June was £347,148, Land Registry figures show – a 1.9% decrease on May.

Over the month, the picture was different to that across London, where prices increased 0.5%, and Barking and Dagenham was lower than the 0.7% rise for the UK as a whole.

Over the last year, the average sale price of property in Barking and Dagenham rose by £2,100 – putting the area 20th among London’s 33 local authorities with price data for annual growth.

The highest annual growth in the region was in City of London, where property prices increased on average by 22.5%, to £1 million. At the other end of the scale, properties in Kensington and Chelsea lost 11.2% of their value, giving an average price of £1.3 million.

First steps on the property ladder

First-time buyers in Barking and Dagenham spent an average of £328,100 on their property – £2,300 more than a year ago, and £49,200 more than in June 2018.

By comparison, former owner-occupiers paid £377,800 on average in June – 15.2% more than first-time buyers.

Property types

Owners of detached houses saw the biggest fall in property prices in Barking and Dagenham in June – they dropped 2.5% in price, to £647,704 on average. Over the last year, prices dropped by 0.1%.

Among other types of property:

Semi-detached:

Terraced:

Flats:

How do property prices in Barking and Dagenham compare?

Buyers paid less for properties in Barking and Dagenham than anywhere else in London in June. The average price paid in Kensington and Chelsea (£1.3 million), at the other end of the scale, would buy 3.9 homes in Barking and Dagenham.

Kensington and Chelsea also had the highest property prices of anywhere in the UK.

Across London, property prices are high compared to those across the UK, where the average cost is £288,000.

Factfile

Average property price in June

Barking and Dagenham: £347,148
London:£527,979
UK: £287,546

Annual change to June

Barking and Dagenham: +0.6%
London: -0.6%
UK: +1.7%

Highest and lowest annual growth in London

City of London: +22.5%
Kensington and Chelsea: -11.2%