North Warwickshire house prices increased more than West Midlands average in August
House prices increased by 5% – more than the average for West Midlands – in North Warwickshire in August, new figures show.
The rise contributes to the longer-term trend, which has seen property prices in the area grow by 8.2% over the last year – the highest in West Midlands.
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Hide AdThe average North Warwickshire house price in August was £270,982, Land Registry figures show – a 5% increase on July.
Over the month, the picture was different to that across West Midlands, where prices increased 0.5%, and North Warwickshire was above the 0.3% rise for the UK as a whole.
Over the last year, the average sale price of property in North Warwickshire rose by £21,000 – putting the area top among West Midlands’s 30 local authorities with price data for annual growth.
At the other end of the scale, properties in Staffordshire Moorlands lost 5% of their value, giving an average price of £220,000.
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Hide AdFirst steps on the property ladder
First-time buyers in North Warwickshire spent an average of £228,000 on their property – £16,000 more than a year ago, and £54,000 more than in August 2018.
By comparison, former owner-occupiers paid £304,000 on average in August – 33.2% more than first-time buyers.
Property types
Owners of detached houses saw the biggest rise in property prices in North Warwickshire in August – they increased 5.1%, to £425,467 on average. Over the last year, prices rose by 10.5%.
Among other types of property:
How do property prices in North Warwickshire compare?
Buyers paid 6.9% more than the average price in West Midlands (£254,000) in August for a property in North Warwickshire. Across West Midlands, property prices are lower than those across the UK, where the average cost is £291,000.
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Hide AdThe most expensive properties in West Midlands were in Stratford-on-Avon – £384,000 on average, and 1.4 times the price as in North Warwickshire. Stratford-on-Avon properties cost 2.7 times the price as homes in Stoke (£141,000 average), at the other end of the scale.
The highest property prices across the UK were in Kensington and Chelsea (£1.4 million).
Factfile
Average property price in August
- North Warwickshire: £270,982
- West Midlands:£253,519
- UK: £291,044
Annual growth to August
- North Warwickshire: +8.2%
- West Midlands: +1.1%
- UK: +0.2%
Highest and lowest annual growth in West Midlands
- North Warwickshire: +8.2%
- Staffordshire Moorlands: -5%