Oxford’s house prices in March increased more than the regional average according to new data.

House prices increased by 1.3 per cent in Oxford in March which is more than the average for the South East.

The rise contributes to the longer-term trend, which has seen property prices in the area grow by 1.2% over the last year.

READ MORE: ‘Major improvement’ necessary as restaurant slammed by hygiene inspectors

The average Oxford house price in March was £462,088 while Land Registry figures show a 1.3% increase on February.

Over the month, the picture was different to that across the South East, where prices increased 0.3 per cent, and Oxford was above the 0.7 per cent rise for the UK as a whole.

Over the last year, the average sale price of property in Oxford rose by £5,500 which put the city 15th among the South East’s 64 local authorities with price data for annual growth.

The highest annual growth in the region was in West Oxfordshire, where property prices increased on average by 6 per cent, to £392,000.

At the other end of the scale, properties in Canterbury lost 12.1 per cent of their value, giving an average price of £322,000.

First-time buyers in Oxford spent an average of £407,100 on their property which is £3,900 more than a year ago and £43,400 more than in March 2019.

By comparison, former owner-occupiers paid £513,200 on average in March which is 26.1 per cent more than first-time buyers.

Owners of flats saw the biggest rise in property prices in Oxford in March as they increased 1.6 per cent, to £290,932 on average.

Over the last year, prices rose by 0.3 per cent.

READ MORE: BMW seized after police catch uninsured driver with revoked licence

Detached homes were up by 1.6 per cent monthly and up 1.7 per cent annually with a £946,575 average.

Semi-detached properties were up 1.1 per cent monthly and up 1.6 per cent annually with a £589,809 average.

Terraced homes were also up 1.1 per cent monthly and up 1.5 per cent annually with a £457,900 average.

Buyers paid 23.8 per cent more than the average price in the South East (£373,000) in March for a property in Oxford.

READ MORE: Jeremy Clarkson and James May set record straight on latest rumours

Across the South East, property prices are high compared to those across the UK, where the average cost is £283,000.

The most expensive properties in the South East were in Elmbridge – £645,000 on average, and 1.4 times the price as in Oxford.

Elmbridge properties cost 2.7 times the price as homes in Gosport (£239,000 average), at the other end of the scale.

The highest property prices across the UK were in Kensington and Chelsea.

The average property price in March for Oxford was £462,088 compared to £373,223 for the South East and £282,776 for the UK.