Nuneaton and Bedworth house prices increased slightly in March

House prices increased slightly, by 0.4%, in Nuneaton and Bedworth in March, new figures show.

The rise contributes to the longer-term trend, which has seen property prices in the area grow by 11.4% over the last year – the highest in West Midlands.

The average Nuneaton and Bedworth house price in March was £242,829, Land Registry figures show – a 0.4% increase on February.

Over the month, the picture was different to that across West Midlands, where prices decreased 4%, and Nuneaton and Bedworth was above the 1.2% drop for the UK as a whole.

Over the last year, the average sale price of property in Nuneaton and Bedworth rose by £25,000 – 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 Newcastle-under-Lyme gained 2.6% in value, giving an average price of £189,000.

First steps on the property ladder

First-time buyers in Nuneaton and Bedworth spent an average of £212,000 on their property – £21,000 more than a year ago, and £62,000 more than in March 2018.

By comparison, former owner-occupiers paid £275,000 on average in March – 29.8% more than first-time buyers.

Property types

Owners of detached houses saw the biggest rise in property prices in Nuneaton and Bedworth in March – they increased 1.2%, to £397,702 on average. Over the last year, prices rose by 13%.

Among other types of property:

How do property prices in Nuneaton and Bedworth compare?

Buyers paid 0.9% less than the average price in West Midlands (£245,000) in March for a property in Nuneaton and Bedworth. Across West Midlands, property prices are roughly the same as those across the UK, where the average cost £285,000.

The most expensive properties in West Midlands were in Stratford-on-Avon – £387,000 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 (£145,000 average), at the other end of the scale.

The highest property prices across the UK were in E09000020.

Factfile

Average property price in March

• Nuneaton and Bedworth: £242,829
• West Midlands:£245,132
• UK: £285,009

Annual growth to March

• Nuneaton and Bedworth: +11.4%
• West Midlands: +3.4%
• UK: +4.1%

Highest and lowest annual growth in West Midlands

• Nuneaton and Bedworth: +11.4%
• Newcastle-under-Lyme: +2.6%