Warwick house prices increased more than West Midlands average in June
House prices increased by 1.1% – more than the average for West Midlands – in Warwick in June, new figures show.
The rise contributes to the longer-term trend, which has seen property prices in the area grow by 4.2% over the last year.
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Hide AdThe average Warwick house price in June was £368,872, Land Registry figures show – a 1.1% increase on May.
Over the month, the picture was similar to that across West Midlands, where prices increased 0.7%, and Warwick was above the 0.7% rise for the UK as a whole.
Over the last year, the average sale price of property in Warwick rose by £15,000 – 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 Newcastle-under-Lyme, where property prices increased on average by 8.1%, to £204,000. At the other end of the scale, properties in Staffordshire Moorlands lost 0.1% of their value, giving an average price of £224,000.
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First-time buyers in Warwick spent an average of £298,000 on their property – £11,000 more than a year ago, and £49,000 more than in June 2018.
By comparison, former owner-occupiers paid £433,000 on average in June – 45.2% more than first-time buyers.
Property types
Owners of terraced houses saw the biggest rise in property prices in Warwick in June – they increased 1.4%, to £321,259 on average. Over the last year, prices rose by 2.8%.
Among other types of property:
- Detached: up 0.7% monthly; up 5.4% annually; £666,037 average
- Semi-detached: up 1.1% monthly; up 4.2% annually; £391,375 average
- Flats: up 1.3% monthly; up 3.4% annually; £222,164 average
How do property prices in Warwick compare?
Buyers paid 47.1% more than the average price in West Midlands (£251,000) in June for a property in Warwick. Across West Midlands, property prices are lower than those across the UK, where the average cost is £288,000.
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Hide AdThe most expensive properties in West Midlands were in Stratford-on-Avon – £400,000 on average, and 8% in Warwick. Stratford-on-Avon properties cost 2.8 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, with an average price of £1.3 million.
Factfile
Average property price in June
- Warwick: £368,872
- West Midlands:£250,743
- UK: £287,546
Annual growth to June
- Warwick: +4.2%
- West Midlands: +3.2%
- UK: +1.7%
Highest and lowest annual growth in West Midlands
- Newcastle-under-Lyme: +8.1%
- Staffordshire Moorlands: -0.1%