North Warwickshire house prices increased slightly in October

House prices increased slightly, by 0.1%, in North Warwickshire in October, new figures show.

The rise contributes to the longer-term trend, which has seen property prices in the area grow by 1.1% over the last year.

The average North Warwickshire house price in October was £261,120, Land Registry figures show – a 0.1% increase on September.

Over the month, the picture was different to that across West Midlands, where prices decreased 0.5%, and North Warwickshire was above the 0.7% drop for the UK as a whole.

Over the last year, the average sale price of property in North Warwickshire rose by £2,700 – putting the area 16th among West Midlands’s 30 local authorities with price data for annual growth.

The highest annual growth in the region was in Stratford-on-Avon, where property prices increased on average by 6.9%, to £421,000. At the other end of the scale, properties in Herefordshire lost 4.2% of their value, giving an average price of £297,000.

First steps on the property ladder

First-time buyers in North Warwickshire spent an average of £219,600 on their property – £1,200 more than a year ago, and £46,200 more than in October 2018.

By comparison, former owner-occupiers paid £293,200 on average in October – 33.6% more than first-time buyers.

Property types

Owners of detached houses saw the biggest rise in property prices in North Warwickshire in October – they increased 0.5%, to £411,085 on average. Over the last year, prices rose by 3%.

Among other types of property:

How do property prices in North Warwickshire compare?

Buyers paid 3.2% more than the average price in West Midlands (£253,000) in October for a property in North Warwickshire. Across West Midlands, property prices are lower than those across the UK, where the average cost is £288,000.

The most expensive properties in West Midlands were in Stratford-on-Avon – £421,000 on average, and 1.6 times the price as in North Warwickshire. Stratford-on-Avon properties cost 2.9 times the price as homes in Stoke (£145,000 average), at the other end of the scale.

The highest property prices across the UK were in Kensington and Chelsea, at £1.4 million.

Factfile

Average property price in October

• North Warwickshire: £261,120
• West Midlands:£253,130
• UK: £287,782

Annual change to October

• North Warwickshire: +1.1%
• West Midlands: -0.3%
• UK: -1.2%

Highest and lowest annual growth in West Midlands

• Stratford-on-Avon: +6.9%
• Herefordshire: -4.2%