Stratford-on-Avon house prices dropped slightly in March

General view of estate agents signs outside a block of flats in Basingstoke, Hampshire.

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 grow by 9.2% over the last year.

The average Stratford-on-Avon house price in March was £386,671, Land Registry figures show – a 0.3% decrease on February.

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

Over the last year, the average sale price of property in Stratford-on-Avon rose by £33,000 – putting the area seventh among West Midlands’s 30 local authorities with price data for annual growth.

The highest annual growth in the region was in Nuneaton and Bedworth, where property prices increased on average by 11.4%, to £243,000. 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 Stratford-on-Avon spent an average of £299,000 on their property – £25,000 more than a year ago, and £53,000 more than in March 2018.

By comparison, former owner-occupiers paid £435,000 on average in March – 45.4% more than first-time buyers.

Property types

Owners of terraced houses saw the biggest fall in property prices Stratford-on-Avon in March – they dropped 1.1% in price, to £287,261 on average. But over the last year, prices rose by 8.3%.

Among other types of property:

Detached: up 0.3% monthly; up 10.2% annually; £614,800 average
Semi-detached: down 0.3% monthly; up 9.6% annually; £363,243 average
Flats: down 0.8% monthly; up 6.2% annually; £184,660 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 March. The average price paid would buy 2.7 homes in Stoke (£145,000), at the other end of the scale.

The highest property prices across the UK were in E09000020.

Across West Midlands, property prices are high compared to those across the UK, where the average cost £285,000.

Factfile

Average property price in March

Stratford-on-Avon: £386,671
West Midlands:£245,132
UK: £285,009

Annual growth to March

Stratford-on-Avon: +9.2%
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%