North Warwickshire house prices dropped more than West Midlands average in September
House prices dropped by 3.1% – more than the average for West Midlands – in North Warwickshire in September, new figures show.
The drop contributes to the longer-term trend, which has seen property prices in the area suffer a 3.1% annual decline.
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Hide AdThe average North Warwickshire house price in September was £251,869, Land Registry figures show – a 3.1% decrease on August.
Over the month, the picture was different to that across West Midlands, where prices decreased 0.2%, and North Warwickshire was lower than the 0.5% drop for the UK as a whole.
Over the last year, the average sale price of property in North Warwickshire fell by £8,000 – putting the area 28th among West Midlands’s 30 local authorities with price data for annual growth.
The highest annual growth in the region was in Cannock Chase, where property prices increased on average by 8.1%, to £243,000. At the other end of the scale, properties in Staffordshire Moorlands lost 6.9% of their value, giving an average price of £221,000.
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Hide AdFirst steps on the property ladder
First-time buyers in North Warwickshire spent an average of £211,700 on their property – £8,000 less than a year ago, but £40,500 more than in September 2018.
By comparison, former owner-occupiers paid £282,900 on average in September – 33.6% more than first-time buyers.
Property types
Owners of flats saw the biggest fall in property prices in North Warwickshire in September – they dropped 4% in price, to £141,009 on average. Over the last year, prices dropped by 5.6%.
Among other types of property:
- Detached: down 2.7% monthly; down 0.8% annually; £397,550 average
- Semi-detached: down 3% monthly; down 3.4% annually; £242,764 average
- Terraced: down 3.2% monthly; down 4.5% annually; £193,442 average
How do property prices in North Warwickshire compare?
Buyers paid 0.7% less than the average price in West Midlands (£254,000) in September 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 Warwick – £377,000 on average, and 1.5 times the price as in North Warwickshire. Warwick 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.
Factfile
Average property price in September
- North Warwickshire: £251,869
- West Midlands:£253,624
- UK: £291,385
Annual change to September
- North Warwickshire: -3.1%
- West Midlands: +0.5%
- UK: -0.1%
Highest and lowest annual growth in West Midlands
- Cannock Chase: +8.1%
- Staffordshire Moorlands: -6.9%