House prices increased by 2.9% in North Warwickshire in June, new figures show.
The boost contributes to the longer-term trend, which has seen property prices in the area achieve 8.9% annual growth.
The average North Warwickshire house price in June was £225,338.3968, Land Registry figures show – a 2.9% increase on May.
Over the month, the picture was less good than that across the West Midlands, where prices increased 5.6678457%, and North Warwickshire underperformed compared to the 4.4989563% rise for the UK as a whole.
Over the last year, the average sale price of property in North Warwickshire rose by £18,000 – putting the area 27th among the West Midlands’s 34 local authorities for annual growth.
The best annual growth in the region was in Shropshire, where property prices increased on average by 20.9%, to £256,000. At the other end of the scale, properties in Warwick gained 3.1% in value, giving an average price of £325,000.
Winners and Losers
Owners of terraced houses saw the biggest improvement in property prices in North Warwickshire in June – they increased 3.2%, to £176,029.7416 on average. Over the last year, prices rose by 8.9%.
Among other types of property:
Detached: up 2.9% monthly; up 10.1% annually; £346,716.3295 averageSemi-detached: up 2.8% monthly; up 8.4% annually; £215,896.1626 averageFlats: up 2.8% monthly; up 5.9% annually; £135,653.255 average
First steps on the property ladder
First-time buyers in North Warwickshire spent an average of £191,000 on their property – £15,000 more than a year ago, and £35,000 more than in June 2016.
By comparison, former owner-occupiers paid £251,000 on average in June – 31.6% more than first-time buyers.
How do property prices in North Warwickshire compare?
Buyers paid 2.6% less than the average price in the West Midlands (£231,000) in June for a property in North Warwickshire. Across the West Midlands, property prices are lower than those across the UK, where the average cost £266,000.
The most expensive properties in the West Midlands were in Stratford-on-Avon – £342,000 on average, and 1.5 times as much as in North Warwickshire. Stratford-on-Avon properties cost 2.7 times as much as homes in Stoke (£126,000 average), at the other end of the scale.
The highest property prices across the UK were in Kensington and Chelsea, where the average June sale price of £1.2 million could buy 13 properties in Burnley (average £99,000).
Average property price in June
North Warwickshire: £225,338.3968The West Midlands:£231,428.6977UK: £265,668.1787
Annual growth to June
North Warwickshire: +8.9%The West Midlands: +15%UK: +13.2%
Best and worst annual growth in the West Midlands
Shropshire: +20.9%Warwick: +3.1%