Nuneaton and Bedworth house prices increased slightly in February

House prices increased slightly, by 0.1%, in Nuneaton and Bedworth in February, new figures show.

The boost contributes to the longer-term trend, which has seen property prices in the area achieve 16.2% annual growth – the highest in West Midlands.

The average Nuneaton and Bedworth house price in February was £223,467, Land Registry figures show – a 0.1% increase on January.

Over the month, the picture was similar to that across West Midlands, where prices increased 0.3%, and Nuneaton and Bedworth underperformed compared to the 0.5% rise for the UK as a whole.

Over the last year, the average sale price of property in Nuneaton and Bedworth rose by £31,000 – 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 gained just 4.9% in value, giving an average price of £213,000.

Winners and Losers

Owners of detached houses saw the biggest improvement in property prices in Nuneaton and Bedworth in February – they increased 0.3%, to £365,312 on average. Over the last year, prices rose by 19.6%.

Among other types of property:

Semi-detached: down 0% monthly; up 15.9% annually; £217,645 averageTerraced: down 0.1% monthly; up 14.4% annually; £172,398 averageFlats: up 0.2% monthly; up 11.2% annually; £112,418 average

First steps on the property ladder

First-time buyers in Nuneaton and Bedworth spent an average of £195,000 on their property – £26,000 more than a year ago, and £54,000 more than in February 2017.

By comparison, former owner-occupiers paid £253,000 on average in February – 29.9% more than first-time buyers.

How do property prices in Nuneaton and Bedworth compare?

Buyers paid 6% less than the average price in West Midlands (£238,000) in February for a property in Nuneaton and Bedworth. Across West Midlands, property prices are lower than those across the UK, where the average cost £277,000.

The most expensive properties in West Midlands were in Stratford-on-Avon – £360,000 on average, and 1.6 times as much as more than in Nuneaton and Bedworth. Stratford-on-Avon properties cost 2.7 times as much as homes in Stoke (£136,000 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 February

Nuneaton and Bedworth: £223,467West Midlands:£237,757UK: £276,755

Annual growth to February

Nuneaton and Bedworth: +16.2%West Midlands: +10%UK: +10.9%

Best and worst annual growth in West Midlands

Nuneaton and Bedworth: +16.2%Staffordshire Moorlands: +4.9%