An area of Essex has been identified as a hotspot for the county’s fastest increasing house prices. The district of Uttlesford does not have the county’s most expensive homes, but it is home to the largest annual change in house prices.
The average house price in Essex was £361,735 in the 12 months to October, according to the latest figures from the Land Registry. That’s an increase of 1.4 per cent compared to a year earlier, equivalent to an extra £5,158 on each home.
But it’s also worse than the UK average with prices hiking by 3.4 per cent over the last year to £292,059. Uttlesford has seen more growth in property prices than anywhere else in Essex.
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The average house price there rose by 5.7 per cent or £25,009 over the last 12 months to £462,902. In Colchester, house prices increased by 4.7 per cent to £311,760, while in Brentwood they rose by 3.2 per cent to £473,359.
Prices fell in five local authorities in Essex though – Epping Forest (0.4 percent), Thurrock (1.1 percent), Castle Point (1.3 percent), Maldon (1.6 percent) and Tendring (2.0 percent). You can see how prices have changed in your local area by using our interactive map below.
Uttlesford is home to plenty of quaint towns and villages including the likes of Thaxted, Great Dunmow and more. It’s also where the county’s rental properties are increasing faster than anywhere else.
High demand for housing often means the cost of homes increases and it’s easy to see why people might want to live in Uttlesford. It’s a largely rural district with towns like Thaxted nestled within countryside and left mostly untouched.
It also a popular area for commuters too. Audley End, Newport and Elsenham are three stations not too far from Saffron Walden that are all served by Greater Anglia with frequent trains into London Liverpool Street. It’s a journey that takes around an hour by train.
The district has also been named among the places where men and women can live the longest. It’s got the second-highest average male life expectancy (82.96) and fourth-highest for women too (85.95).