Nuneaton and Bedworth house prices dropped in November

House prices dropped by 2.1% in Nuneaton and Bedworth in November, new figures show.

But the drop does not reverse the longer-term trend, which has seen property prices in the area grow by 0.2% over the last year.

The average Nuneaton and Bedworth house price in November was £234,880, Land Registry figures show – a 2.1% decrease on October.

Over the month, the picture was different to that across West Midlands, where prices decreased 3.1%, but Nuneaton and Bedworth was lower than the 0.8% drop for the UK as a whole.

Over the last year, the average sale price of property in Nuneaton and Bedworth rose by £450 – putting the area ninth among West Midlands’s 30 local authorities with price data for annual growth.

The highest annual growth in the region was in Wychavon, where property prices increased on average by 6%, to £369,000. At the other end of the scale, properties in South Staffordshire lost 8.6% of their value, giving an average price of £276,000.

First steps on the property ladder

First-time buyers in Nuneaton and Bedworth spent an average of £204,770 on their property – £190 less than a year ago, but £51,100 more than in November 2018.

By comparison, former owner-occupiers paid £265,750 on average in November – 29.8% more than first-time buyers.

Property types

Owners of terraced houses saw the biggest fall in property prices in Nuneaton and Bedworth in November – they dropped 2.7% in price, to £181,080 on average. Over the last year, prices dropped by 1.3%.

Among other types of property:

• Detached: down 1.7% monthly; up 2.1% annually; £384,128 average
• Semi-detached: down 2.2% monthly; up 0.4% annually; £230,764 average
• Flats: down 1.9% monthly; down 2.5% annually; £113,556 average

How do property prices in Nuneaton and Bedworth compare?

Buyers paid 3.6% less than the average price in West Midlands (£244,000) in November for a property in Nuneaton and Bedworth. Across West Midlands, property prices are lower than those across the UK, where the average cost is £285,000.

The most expensive properties in West Midlands were in Stratford-on-Avon – £410,000 on average, and 1.7 times the price as in Nuneaton and Bedworth. Stratford-on-Avon properties cost 2.9 times the price as homes in Stoke (£139,000 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 November

• Nuneaton and Bedworth: £234,880
• West Midlands:£243,655
• UK: £284,950

Annual change to November

• Nuneaton and Bedworth: +0.2%
• West Midlands: -3.4%
• UK: -2.1%

Highest and lowest annual growth in West Midlands

• Wychavon: +6%
• South Staffordshire: -8.6%