Oldham house prices increased in December
House prices increased by 1.2% in Oldham in December, new figures show.
The rise contributes to the longer-term trend, which has seen property prices in the area grow by 15.4% over the last year.
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Hide AdThe average Oldham house price in December was £197,544, Land Registry figures show – a 1.2% increase on November.
Over the month, the picture was different to that across the North West, where prices decreased 0.1%, and Oldham was above the 0.4% drop for the UK as a whole.
Over the last year, the average sale price of property in Oldham rose by £26,000 – putting the area ninth among the North West’s 39 local authorities with price data for annual growth.
The highest annual growth in the region was in West Lancashire, where property prices increased on average by 23.8%, to £244,000. At the other end of the scale, properties in South Lakeland gained 5.9% in value, giving an average price of £287,000.
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Hide AdThe average UK house price was £294,000 in December 2022, which was £26,000 higher than 12 months earlier.
It meant prices increased by 9.8% annually in December, slowing from 10.6% annual growth in November, according to the Office for National Statistics.
First steps on the property ladder
First-time buyers in Oldham spent an average of £177,000 on their property – £24,000 more than a year ago, and £61,000 more than in December 2017.
By comparison, former owner-occupiers paid £219,000 on average in December – 23.5% more than first-time buyers.
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Owners of flats saw the biggest rise in property prices in Oldham in December – they increased 1.5%, to £133,095 on average. Over the last year, prices rose by 13.4%.
Among other types of property:
Detached: up 1.4% monthly; up 15.7% annually; £354,592 averageSemi-detached: up 1.3% monthly; up 15.4% annually; £222,189 averageTerraced: up 1.1% monthly; up 15.6% annually; £161,461 average
How do property prices in Oldham compare?
Buyers paid 10.7% less than the average price in the North West (£221,000) in December for a property in Oldham. Across the North West, property prices are lower than those across the UK, where the average cost £294,000.
The most expensive properties in the North West were in Trafford – £384,000 on average, and 1.9 times as much as more than in Oldham. Trafford properties cost 3.3 times as much as homes in Burnley (£118,000 average), at the other end of the scale.
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Factfile
Average property price in December
Oldham: £197,544The North West:£221,101UK: £294,329
Annual growth to December
Oldham: +15.4%The North West: +12.2%UK: +9.8%
Highest and lowest annual growth in the North West
West Lancashire: +23.8%South Lakeland: +5.9%