House prices dropped slightly, by 0.3%, in Stratford-on-Avon in March, new figures show.
But the drop does not reverse the longer-term trend, which has seen property prices in the area achieve 7.2% annual growth.
The average Stratford-on-Avon house price in March was £365,786, Land Registry figures show – a 0.3% decrease on February.
Over the month, the picture was worse than that across West Midlands, where prices increased 1.1%, and Stratford-on-Avon underperformed compared to the 0.3% rise for the UK as a whole.
Over the last year, the average sale price of property in Stratford-on-Avon rose by £25,000 – putting the area 28th among West Midlands’s 30 local authorities with price data for annual growth.
The best annual growth in the region was in Herefordshire, where property prices increased on average by 15.2%, to £297,000. At the other end of the scale, properties in Staffordshire Moorlands gained just 6% in value, giving an average price of £215,000.
Winners and Losers
Owners of flats fared worst in Stratford-on-Avon in March – they dropped 0.8% in price, to £178,332 on average. But over the last year, prices rose by 1.4%.
Among other types of property:
Detached: down 0.1% monthly; up 10.2% annually; £581,766 averageSemi-detached: down 0.1% monthly; up 7.2% annually; £341,464 averageTerraced: down 0.7% monthly; up 3.7% annually; £270,580 average
First steps on the property ladder
First-time buyers in Stratford-on-Avon spent an average of £283,000 on their property – £16,000 more than a year ago, and £50,000 more than in March 2017.
By comparison, former owner-occupiers paid £412,000 on average in March – 45.4% more than first-time buyers.
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 March. The average price paid would buy 2.7 homes in Stoke (£136,000), 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 £278,000.
Average property price in March
Stratford-on-Avon: £365,786West Midlands:£240,528UK: £278,436
Annual growth to March
Stratford-on-Avon: +7.2%West Midlands: +10.3%UK: +9.8%
Best and worst annual growth in West Midlands
Herefordshire: +15.2%Staffordshire Moorlands: +6%