House prices in Bedford saw a tiny dip in April, but experts say it’s no cause for alarm. In fact, property values are still higher than this time last year.

The average house price in Bedford last month was £346,232, according to the latest Land Registry data. This represents a 0.3% drop compared to March.

Long-term growth

It’s important to remember that this small dip doesn’t mean the market is crashing. Over the past year, Bedford house prices have actually risen by a healthy 1.5%. This means the average Bedford homeowner has seen their property increase in value by £5,200 over the last 12 months.

East of England Trends

This slight dip reflects a similar trend across the East of England, where prices dipped by 0.7% in April. However, Bedford’s slowdown was less pronounced than the UK average, which actually saw a 0.3% increase.

What’s happening with first-time buyers?

If you’re hoping to get your foot on the property ladder, be prepared to pay a little more than last year. The average price for first-time buyers in Bedford during April was £281,100, a rise of £5,400 compared to April 2022.

Property types: What’s hot and what’s not?

• Detached houses: Prices dropped by 0.5% in April, with an average price of £559,931. However, they’re still up by 1% over the year.
• Semi-detached houses: Prices dipped by 0.1% in April, averaging £351,021. Over the year, they’ve climbed by a solid 2.5%.
• Terraced houses: These saw a 0.3% monthly drop, with an average price of £273,009. The upside? They’re up 1.8% annually.
• Flats: Prices dipped by 0.1% in April, averaging £183,763. They’ve seen a small annual increase of 0.1%.

How does Bedford compare to the rest of the UK?

Bedford’s property market remains slightly more expensive than the East of England average. Buyers in Bedford paid a 3.2% premium compared to the average price in the East of England (£335,000) in April.

Fact File:

• Average property price in April:
  • Bedford: £346,232
  • East of England: £335,448
  • UK: £281,373
• Annual house price growth to April:
  • Bedford: +1.5%
  • East of England: +0.4%
  • UK: +1.1%

The Bottom Line: While Bedford house prices saw a small dip in April, the overall picture remains positive for sellers with continued growth over the past year. If you’re thinking of buying, it’s still a competitive market, but this slight slowdown might offer a small window of opportunity.