Sutton house prices dropped slightly in June

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

House prices dropped slightly, by 0.5%, in Sutton 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 0.3% over the last year.

The average Sutton house price in June was £433,241, Land Registry figures show – a 0.5% decrease on May.

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

Over the last year, the average sale price of property in Sutton rose by £1,400 – putting the area 22nd 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 Sutton spent an average of £360,470 on their property – £980 more than a year ago, and £37,870 more than in June 2018.

By comparison, former owner-occupiers paid £518,010 on average in June – 43.7% more than first-time buyers.

Property types

Owners of detached houses saw the biggest fall in property prices in Sutton in June – they dropped 0.9% in price, to £1,041,120 on average. But over the last year, prices rose by 0.3%.

Among other types of property:

Semi-detached:

Terraced:

Flats:

How do property prices in Sutton compare?

Buyers paid 17.9% less than the average price in London (£528,000) in June for a property in Sutton. Across London, property prices are high compared to those across the UK, where the average cost is £288,000.

The most expensive properties in London were in Kensington and Chelsea – £1.3 million on average, and 3.1 times the price as in Sutton. Kensington and Chelsea properties cost 3.9 times the price as homes in Barking and Dagenham (£347,000 average), at the other end of the scale.

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

Factfile

Average property price in June

Sutton: £433,241
London:£527,979
UK: £287,546

Annual change to June

Sutton: +0.3%
London: -0.6%
UK: +1.7%

Highest and lowest annual growth in London

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