Warwickshire house prices held steady in July

File photo dated 14/10/14 of sold and for sale signs. A scramble by buyers to complete before the stamp duty holiday started winding down pushed UK house prices to a record high in June, official figures show. House prices rose by 13.2% over the year to June, faster than at any point since November 2004, according to the Office for National Statistics (ONS). Issue date: Wednesday August 18, 2021.

House prices remained steady in Warwickshire in July, new figures show.

The lack of movement maintains the longer-term trend, which has seen property prices in the area achieve 10.9% annual growth.

The average Warwickshire house price in July was £279,212, Land Registry figures show – largely unchanged from June.

Over the month, the picture was better than that across the West Midlands, where prices decreased 4.9%, and Warwickshire outperformed the 3.7% drop for the UK as a whole.

Over the last year, the average sale price of property in Warwickshire rose by £27,000 – putting the area 18th among the West Midlands’s 34 local authorities for annual growth.

The best annual growth in the region was in Wyre Forest, where property prices increased on average by 19.8%, to £233,000. At the other end of the scale, properties in Warwick gained 2.6% in value, giving an average price of £316,000.

Winners and Losers

Owners of semi-detached houses saw the biggest improvement in property prices in Warwickshire in July – they increased 0.3%, to £266,545 on average. Over the last year, prices rose by 10.5%.

Among other types of property:

Detached: remained level over the month; up 12.9% annually; £455,677 averageTerraced: down 0.1% monthly; up 10.6% annually; £218,773 averageFlats: down 0.5% monthly; up 6.2% annually; £173,117 average

First steps on the property ladder

First-time buyers in Warwickshire spent an average of £225,000 on their property – £21,000 more than a year ago, and £42,000 more than in July 2016.

By comparison, former owner-occupiers paid £324,000 on average in July – 43.7% more than first-time buyers.

How do property prices in Warwickshire compare?

Buyers paid 26.5% more than the average price in the West Midlands (£221,000) in July for a property in Warwickshire. Across the West Midlands, property prices are higher than those across the UK, where the average cost £256,000.

The most expensive properties in the West Midlands were in Stratford-on-Avon – £355,000 on average, and 1.3 times as much as in Warwickshire. Stratford-on-Avon properties cost 2.6 times as much as homes in Stoke (£135,000 average), at the other end of the scale.

The highest property prices across the UK were in Kensington and Chelsea, where the average July sale price of £1.3 million could buy 13 properties in Burnley (average £101,000).

Factfile

Average property price in July

Warwickshire: £279,212The West Midlands:£220,759UK: £255,535

Annual growth to July

Warwickshire: +10.9%The West Midlands: +8.5%UK: +8%

Best and worst annual growth in the West Midlands

Wyre Forest: +19.8%Warwick: +2.6%