North Warwickshire house prices dropped in July
House prices dropped by 1.2% in North Warwickshire in July, new figures show.
But the drop does not reverse the longer-term trend, which has seen property prices in the area grow by 1% over the last year.
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Hide AdThe average North Warwickshire house price in July was £255,192, Land Registry figures show – a 1.2% decrease on June.
Over the month, the picture was different to that across West Midlands, where prices increased 0.2%, and North Warwickshire was lower than the 0.5% rise for the UK as a whole.
Over the last year, the average sale price of property in North Warwickshire rose by £2,400 – putting the area 24th among West Midlands’s 30 local authorities with price data for annual growth.
The highest annual growth in the region was in Malvern Hills, where property prices increased on average by 7.1%, to £340,000. At the other end of the scale, properties in Staffordshire Moorlands lost 2.4% of their value, giving an average price of £223,000.
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First-time buyers in North Warwickshire spent an average of £215,000 on their property – £1,000 more than a year ago, and £40,700 more than in July 2018.
By comparison, former owner-occupiers paid £286,100 on average in July – 33.1% more than first-time buyers.
Property types
Owners of flats saw the biggest fall in property prices in North Warwickshire in July – they dropped 1.6% in price, to £145,487 on average. Over the last year, prices dropped by 0.8%.
Among other types of property:
- Detached: down 1.1% monthly; up 2.8% annually; £399,961 average
- Semi-detached: down 1.3% monthly; up 0.6% annually; £245,969 average
- Terraced: down 1.1% monthly; down 0.3% annually; £196,486 average
How do property prices in North Warwickshire compare?
Buyers paid 1.5% more than the average price in West Midlands (£251,000) in July for a property in North Warwickshire. Across West Midlands, property prices are lower than those across the UK, where the average cost is £290,000.
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Hide AdThe most expensive properties in West Midlands were in Stratford-on-Avon – £385,000 on average, and 1.5 times the price as in North Warwickshire. Stratford-on-Avon properties cost 2.7 times the price as homes in Stoke (£144,000 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 July
- North Warwickshire: £255,192
- West Midlands:£251,313
- UK: £289,824
Annual growth to July
- North Warwickshire: +1%
- West Midlands: +0.4%
- UK: +0.6%
Highest and lowest annual growth in West Midlands
- Malvern Hills: +7.1%
- Staffordshire Moorlands: -2.4%