The latest data released by Balgores Property Group has shown that average house prices in Essex gained an impressive 14% over the course of last year, ahead of the national average house price growth of 12.5% reported by ONS.

The last 12 months have seen house prices rise steadily across England with prices in Basildon seeing one of the the highest increases at 20% year-on-year growth. Chelmsford was up by 19%; Upminster gained 16%; Romford 13%; Hornchurch by 9% and average properties in Brentwood grew by 8%. 

The average house price in Essex stood at £312,067 in 2014, well above the above the national average* of £209,428.  (* Source: Halifax Monthly House Price Index published December 2014).

Martin Gibbon, a Fellow of the National Association of Estate Agents and Group Director of Balgores Property Group commented: “Prices were buoyant in the first half of 2014 and then cooled off towards the end of the year.  However, in some parts of Essex, home owners have seen a huge demand for their properties throughout 2014, particularly in Basildon, which saw prices leap by 20%. Basildon has seen a large increase in prices, mainly down to the general redevelopment of the area, which has boosted demand. New housing developments such as Acacia Park and Morello Quarter in Cherrydown East, plus the regeneration of Pitsea and the 20 year Basildon town centre masterplan, have all added to the town’s allure".