The fall contributes to the longer-term trend, which has seen property prices in the area suffer a 3.9 per cent annual decline.
The average house price in the district in October was £337,267, Land Registry figures revealed – a 0.6 per cent decrease on September.
Across the East of England prices decreased by 1.5 per cent and 0.7 per cent for the UK as a whole.
Over the last year, the average sale price of property in the district fell by £14,000.
First-time buyers spent an average of £277,000 on their property – £13,000 less than a year ago, but £38,000 more than in October 2018.
Owners of terraced houses saw the biggest fall in property prices in the Braintree district in October – down 0.9 per cent to £285,694 on average. Over the last year, prices dropped by 5.5 per cent.
Other types of property
- Detached: down 0.3 per cent monthly and 1.9 per cent annually to £587,288 on average.
- Semi-detached: down 0.5 per cent monthly and 3.5 per cent annually to £353,119.
- Flats: down 0.8 per cent monthly and 5.8 per cent annually to £172,861.
Buyers paid 3.3 per cent less than the average price in the East of England (£349,000) in October for a property in the Braintree district.
East of England property prices are high compared to the UK average of £288,000.
The highest property prices across the UK were in Kensington and Chelsea where the average is an eye-watering £1.4 million.
Factfile
Average property price in October
- Braintree: £337,267
- East of England: £348,615
- UK: £287,782
Annual change to October
- Braintree: -3.9%
- East of England: -2.3%
- UK: -1.2%
Highest and lowest annual growth in the East of England
- East Cambridgeshire: +4.1%
- Broxbourne: -7.7%
