ISLE of Wight house prices increased by more than the average for the South-East in October, new figures show.

The rise contributes to a longer-term trend, which has seen property prices in the area grow by 12.6 per cent over the last year.

The average Isle of Wight house price in October was £291,343, Land Registry figures show – a 1.5 per cent increase on September.

Over the month, the picture was different to that across the South-East, where prices increased 0.1 per cent, and the Isle of Wight was above the 0.3 per cent rise for the UK as a whole.

Over the last year, the average sale price of property on the Isle of Wight rose by £33,000 – putting the area 26th among the South East’s 64 local authorities with price data for annual growth.

First-time buyers on the Isle of Wight spent an average of £233,000 on their property – £26,000 more than a year ago, and £63,000 more than in October, 2017.

By comparison, former owner-occupiers paid £330,000 on average in October – 41.5 per cent more than first-time buyers.

Which property type is increasing the most in value on the Isle of Wight?

Owners of detached houses saw the biggest rise in property prices on the Isle of Wight in October.

They increased by 1.8 per cent, to £443,553 on average.

Over the last year, prices rose by 13 per cent.

What has happened to other property types on the Isle of Wight?

Semi-detached houses were up 1.4 per cent monthly, and 13.7 per cent annually.

Terraced houses were up 1.5 per cent monthly, and 14.1 per cent annually.

Flats were up 1.1 per cent monthly, and 9.2 per cent annually.

How do property prices on the Isle of Wight compare?

Buyers paid 28.1 per cent less than the average price in the South East (£405,000) in October for a property on the Isle of Wight.

Across the South-East, property prices are low compared to those across the UK, where the average cost is £296,000.