House prices in Epping Forest increased in September as house-buyers shrugged off continued uncertainty in the economy.

The boost contributes to the longer-term trend, which has seen property prices in the area achieve 5.8 per cent annual growth.

The average Epping Forest house price in September was £480,337, Land Registry figures show – a 2.1 per cent increase on August.

Over the month, the picture was similar to that across the East of England, where prices increased 2.6 per cent, but Epping Forest outperformed the 1.7 per cent rise for the UK as a whole.

Over the last year, the average sale price of property in Epping Forest rose by £26,000 – putting the area seventh among the East of England’s 47 local authorities for annual growth.

The best annual growth in the region was in South Norfolk, where properties increased on average by 8.9 per cent, to £278,000. At the other end of the scale, properties in Broxbourne dropped 3.1 per cent in value, giving an average price of £348,000.

Winners and Losers

Owners of detached houses saw the biggest improvement in property prices in Epping Forest in September – they increased 2.8 per cent, to £920,458 on average. Over the last year, prices rose by 7.1 per cent.

Among other types of property:

Semi-detached: up 1.9 per cent monthly; up 7.1 per cent annually; £543,987 average

Terraced: up 1.8 per cent monthly; up 5.9 per cent annually; £408,226 average

Flats: up 2 per cent monthly; up 2.6 per cent annually; £291,841 average

First steps on the property ladder

First-time buyers in Epping Forest spent an average of £​362,000 on their property – ​£17,000 more than a year ago, ​and ​£60,000 more than in Sep-15.

By comparison, former owner-occupiers paid £​577,000 on average in September​ – 59.1 per cent more than first-time buyers.

How do property prices in Epping Forest compare?

Buyers paid 57.1 per cent more than the average price in the East of England (£306,000) in September for a property in Epping Forest. Across the East of England, property prices are high compared to those across the UK, where the average cost £245,000.

The most expensive properties in the East of England were in St Albans – £530,000 on average, and 1.1 times as much as in Epping Forest. St Albans properties cost three times as much as homes in Great Yarmouth (£178,000 average), at the other end of the scale.

The highest property prices across the UK were in Kensington and Chelsea, where the average September sale price of £1.3 million could buy 15 properties in Burnley (average £88,000).