Oldham house prices increased in August
House prices increased by 2.2% in Oldham in August, new figures show.
The rise contributes to the longer-term trend, which has seen property prices in the area grow by 6.3% over the last year.
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Hide AdThe average Oldham house price in August was £195,582, Land Registry figures show – a 2.2% increase on July.
Over the month, the picture was different to that across the North West, where prices remained static, and Oldham was above the 0.3% rise for the UK as a whole.
Over the last year, the average sale price of property in Oldham rose by £12,000 – putting the area third among the North West’s 35 local authorities with price data for annual growth.
The highest annual growth in the region was in Ribble Valley, where property prices increased on average by 6.8%, to £284,000. At the other end of the scale, properties in Burnley lost 5.6% of their value, giving an average price of £111,000.
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Hide AdFirst steps on the property ladder
First-time buyers in Oldham spent an average of £175,200 on their property – £10,000 more than a year ago, and £56,400 more than in August 2018.
By comparison, former owner-occupiers paid £217,700 on average in August – 24.3% more than first-time buyers.
Property types
Owners of semi-detached houses saw the biggest rise in property prices in Oldham in August – they increased 2.3%, to £220,738 on average. Over the last year, prices rose by 6.7%.
Among other types of property:
- Detached: up 2.2% monthly; up 7.9% annually; £350,255 average
- Terraced: up 2.2% monthly; up 5.6% annually; £159,432 average
- Flats: up 1.6% monthly; up 5% annually; £132,321 average
How do property prices in Oldham compare?
Buyers paid 9.4% less than the average price in the North West (£216,000) in August for a property in Oldham. Across the North West, property prices are low compared to those across the UK, where the average cost is £291,000.
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Hide AdThe most expensive properties in the North West were in Trafford – £372,000 on average, and 1.9 times the price as in Oldham. Trafford properties cost 3.4 times the price as homes in Burnley (£111,000 average), at the other end of the scale.
The highest property prices across the UK were in Kensington and Chelsea (£1.4 million).
Factfile
Average property price in August
- Oldham: £195,582
- The North West:£215,791
- UK: £291,044
Annual growth to August
- Oldham: +6.3%
- The North West: +0.4%
- UK: +0.2%
Highest and lowest annual growth in the North West
- Ribble Valley: +6.8%
- Burnley: -5.6%