Stratford-on-Avon house prices increased in June

House prices increased by 1.8% in Stratford-on-Avon in June, new figures show.

The rise contributes to the longer-term trend, which has seen property prices in the area grow by 13.3% over the last year.

The average Stratford-on-Avon house price in June was £390,610, Land Registry figures show – a 1.8% increase on May.

Over the month, the picture was different to that across West Midlands, where prices remained static, and Stratford-on-Avon was above the 1% rise for the UK as a whole.

Over the last year, the average sale price of property in Stratford-on-Avon rose by £46,000 – putting the area fifth among West Midlands’s 30 local authorities with price data for annual growth.

The highest annual growth in the region was in North Warwickshire, where property prices increased on average by 17%, to £262,000. At the other end of the scale, properties in Staffordshire Moorlands gained 3.4% in value, giving an average price of £215,000.

An imbalance between supply and demand for properties has remained the primary reason behind climbing house prices across the UK throughout the pandemic.

But activity is starting to slow, with soaring inflation putting household budgets under pressure.

First steps on the property ladder

First-time buyers in Stratford-on-Avon spent an average of £304,000 on their property – £34,000 more than a year ago, and £65,000 more than in June 2017.

By comparison, former owner-occupiers paid £439,000 on average in June – 44.5% more than first-time buyers.

Property types

Owners of terraced houses saw the biggest rise in property prices in Stratford-on-Avon in June – they increased 2.4%, to £294,335 on average. Over the last year, prices rose by 11.4%.

Among other types of property:

Detached: up 1.2% monthly; up 15% annually; £614,709 averageSemi-detached: up 1.9% monthly; up 13.8% annually; £366,236 averageFlats: up 2.2% monthly; up 7.8% annually; £189,649 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 June. The average price paid would buy 2.8 homes in Stoke (£139,000), 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 £286,000.

Factfile

Average property price in June

Stratford-on-Avon: £390,610West Midlands:£246,114UK: £286,397

Annual growth to June

Stratford-on-Avon: +13.3%West Midlands: +6.6%UK: +7.8%

Highest and lowest annual growth in West Midlands

North Warwickshire: +17%Staffordshire Moorlands: +3.4%