North Warwickshire house prices increased more than West Midlands average in April

House prices increased by 1.1% – more than the average for West Midlands – in North Warwickshire in April, new figures show.

The rise contributes to the longer-term trend, which has seen property prices in the area grow by 4% over the last year.

The average North Warwickshire house price in April was £259,318, Land Registry figures show – a 1.1% increase on March.

Over the month, the picture was similar to that across West Midlands, where prices increased 0.8%, and North Warwickshire was above the 0.5% rise for the UK as a whole.

Over the last year, the average sale price of property in North Warwickshire rose by £10,000 – putting the area 23rd among West Midlands’s 30 local authorities with price data for annual growth.

The highest annual growth in the region was in Telford and Wrekin, where property prices increased on average by 9.2%, to £225,000. At the other end of the scale, properties in Herefordshire gained 1.6% in value, giving an average price of £296,000.

First steps on the property ladder

First-time buyers in North Warwickshire spent an average of £218,000 on their property – £7,200 more than a year ago, and £47,300 more than in April 2018.

By comparison, former owner-occupiers paid £291,200 on average in April – 33.6% more than first-time buyers.

Property types

Owners of detached houses saw the biggest rise in property prices in North Warwickshire in April – they increased 1.5%, to £410,727 on average. Over the last year, prices rose by 6.2%.

Among other types of property:

How do property prices in North Warwickshire compare?

Buyers paid 5.1% more than the average price in West Midlands (£247,000) in April for a property in North Warwickshire. Across West Midlands, property prices are lower than those across the UK, where the average cost £286,000.

The most expensive properties in West Midlands were in Stratford-on-Avon – £395,000 on average, and 1.5 times the price as in North Warwickshire. Stratford-on-Avon properties cost 2.7 times the price as homes in Stoke (£144,000 average), at the other end of the scale.

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

Factfile

Average property price in April

• North Warwickshire: £259,318
• West Midlands:£246,765
• UK: £286,489

Annual growth to April

• North Warwickshire: +4%
• West Midlands: +3.1%
• UK: +3.5%

Highest and lowest annual growth in West Midlands

• Telford and Wrekin: +9.2%
• Herefordshire: +1.6%