Good news for Watford homeowners! House prices in your area are still on the up, even if the market has slowed down a bit.

The average house price in Watford went up by 0.3% in July, according to the latest Land Registry figures. That means the average house in your area is now worth £394,261.

Is this good news?

Well, it’s definitely good news if you’re thinking of selling. You’ve probably made at least £1,000 in the last month alone! Since April, the average Watford house price has gone up by a healthy £18,000.

But before you get too excited, it’s worth knowing that Watford didn’t do as well as other areas in the East of England. Across the region, house prices rose by 0.7% in July. And across the UK, prices rose by 0.6%.

What does this mean for you?

If you’re thinking of selling your Watford home and moving elsewhere in the East of England, you might be able to get even more money for it. For example, houses in St Albans are now worth a staggering £584,000 on average – that’s 1.5 times more expensive than Watford.

What about first-time buyers?

It’s still tough out there if you’re trying to get on the property ladder. The average first-time buyer in Watford spent £350,700 on their first home in July. That’s a whopping £6,300 more than a year ago.

Here’s a quick summary of the key facts and figures:

Average House Prices in July:

• Watford: £394,261
• East of England: £341,160
• UK: £289,723

House Price Growth Over the Last Year:

• Watford: +1.3%
• East of England: +0.3%
• UK: +2.2%

Highest and Lowest House Price Growth in the East of England (last year):

• Highest: South Cambridgeshire: +5.8%
• Lowest: Maldon: -5.3%

What type of property is doing well?

If you own a flat in Watford, you’ll be pleased to know that flats saw the biggest price increase in July, rising by 0.2%.

However, it was not such good news for owners of detached houses, which saw the biggest price drop, falling by 0.5% in July.