Stratford-on-Avon house prices dropped in December

House prices dropped by 2.9% in Stratford-on-Avon in December, new figures show.

But the drop does not reverse the longer-term trend, which has seen property prices in the area grow by 6.6% over the last year.

The average Stratford-on-Avon house price in December was £384,095, Land Registry figures show – a 2.9% decrease on November.

Over the month, the picture was different to that across West Midlands, where prices remained static, and Stratford-on-Avon was lower than the 0.4% drop for the UK as a whole.

Over the last year, the average sale price of property in Stratford-on-Avon rose by £24,000 – putting the area 29th among West Midlands’s 30 local authorities with price data for annual growth.

The highest annual growth in the region was in Walsall, where property prices increased on average by 17.6%, to £225,000. At the other end of the scale, properties in Wychavon gained 5.3% in value, giving an average price of £340,000.

The average UK house price was £294,000 in December 2022, which was £26,000 higher than 12 months earlier.

It meant prices increased by 9.8% annually in December, slowing from 10.6% annual growth in November, according to the Office for National Statistics.

First steps on the property ladder

First-time buyers in Stratford-on-Avon spent an average of £299,000 on their property – £20,000 more than a year ago, and £50,000 more than in December 2017.

By comparison, former owner-occupiers paid £431,000 on average in December – 44.3% more than first-time buyers.

Property types

Owners of terraced houses saw the biggest fall in property prices Stratford-on-Avon in December – they dropped 3% in price, to £288,131 on average. But over the last year, prices rose by 6.5%.

Among other types of property:

Detached: down 2.9% monthly; up 6.9% annually; £606,763 averageSemi-detached: down 2.8% monthly; up 7.2% annually; £360,764 averageFlats: down 2.6% monthly; up 3.7% annually; £184,153 average

How do property prices in Stratford-on-Avon compare?

Buyers paid more for properties in Stratford-on-Avon than anywhere else in West Midlands in December. The average price paid would buy 2.6 homes in Stoke (£147,000), at the other end of the scale.

The highest property prices across the UK were in Kensington and Chelsea.

Across West Midlands, property prices are high compared to those across the UK, where the average cost £294,000.

Factfile

Average property price in December

Stratford-on-Avon: £384,095West Midlands:£256,206UK: £294,329

Annual growth to December

Stratford-on-Avon: +6.6%West Midlands: +10.7%UK: +9.8%

Highest and lowest annual growth in West Midlands

Walsall: +17.6%Wychavon: +5.3%