House prices dropped slightly, by 0.1 per cent, in Southampton in June, new figures show.

But the drop does not reverse the longer-term trend, which has seen property prices in the area achieve 2 per cent annual growth.

The average Southampton house price in June was £218,192, Land Registry figures show – a 0.1 per cent decrease on May.

Over the month, the picture was worse than that across the South East, where prices increased 2.7 per cent, and Southampton underperformed compared to the 4.5 per cent rise for the UK as a whole.

Over the last year, the average sale price of property in Southampton rose by £4,300 – putting the area 68th among the South East’s 70 local authorities for annual growth.

The best annual growth in the region was in Hastings, where property prices increased to £252,000. At the other end of the scale, properties in Runnymede gained 0.9 per cent in value, giving an average price of £433,000.

Owners of flats fared worst in Southampton in June – they dropped 0.2 per cent in price, to £269,262 on average. But over the past year, prices rose by 0.6 per cent.

Among other types of property:

n Detached: down 0% monthly; up 2.6% annually; £377,062 average

n Semi-detached: down 0% monthly; up 2.5% annually; £269,262 average

n Terraced: down 0% monthly; up 3.3% annually; £224,226 average

First-time buyers in Southampton spent an average of £195,300. on their property.– £3,300 more than a year ago, and £16,800 more than in June 2016.

By comparison, former owner-occupiers paid £248,900 on average in June – 27.4% more than first-time buyers.

How do property prices in Southampton compare?

Buyers paid less for properties in Southampton than anywhere else in the South East in June. The average price paid in Elmbridge (£650,000), at the other end of the scale, would buy three homes in Southampton.

The highest property prices across the UK were in Kensington and Chelsea, where the average June sale price of £1.2 million could buy 13 properties in Burnley (average £99,000).

Across the South East, property prices are lower than those across the UK, where the average cost £266,000.

Factfile

Average property price in June

Southampton: £218,192The South East: £355,948UK: £265,668Annual growth to June

Southampton: +2%The South East: +10.5%UK: +13.2%Best and worst annual growth in the South East

Hastings: +18.5%Runnymede: +0.9%

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