Oldham house prices increased slightly in June
House prices increased slightly, by 0.1%, in Oldham in June, new figures show.
The boost contributes to the longer-term trend, which has seen property prices in the area achieve 12.7% annual growth.
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Hide AdThe average Oldham house price in June was £162,507.162, Land Registry figures show – a 0.1% increase on May.
Over the month, the picture was less good than that across the North West, where prices increased 6.7661376%, and Oldham underperformed compared to the 4.4989563% rise for the UK as a whole.
Over the last year, the average sale price of property in Oldham rose by £18,000 – putting the area 31st among the North West’s 43 local authorities for annual growth.
The best annual growth in the region was in Pendle, where property prices increased on average by 22.8%, to £124,000. At the other end of the scale, properties in Preston gained 7.3% in value, giving an average price of £136,000.
Winners and Losers
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Hide AdOwners of terraced houses saw the biggest improvement in property prices in Oldham in June – they increased 0.3%, to £133,318.9511 on average. Over the last year, prices rose by 13.4%.
Among other types of property:
Detached: up 0.3% monthly; up 14.3% annually; £288,662.6908 averageSemi-detached: up 0% monthly; up 11.9% annually; £181,612.8253 averageFlats: down 1.8% monthly; up 8.2% annually; £112,398.4289 average
First steps on the property ladder
First-time buyers in Oldham spent an average of £146,000 on their property – £16,000 more than a year ago, and £39,000 more than in June 2016.
By comparison, former owner-occupiers paid £180,000 on average in June – 23.7% more than first-time buyers.
How do property prices in Oldham compare?
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Hide AdBuyers paid 18.8% less than the average price in the North West (£200,000) in June for a property in Oldham. Across the North West, property prices are low compared to those across the UK, where the average cost £266,000.
The most expensive properties in the North West were in Trafford – £322,000 on average, and twice as much as in Oldham. Trafford properties cost 3.3 times as much as homes in Burnley (£99,000 average), at the other end of the scale.
The highest property prices across the UK were in Kensington and Chelsea, where the average June sale price of £1.2 million could buy 13 properties in Burnley (average £99,000).
Factfile
Average property price in June
Oldham: £162,507.162The North West:£200,221.9349UK: £265,668.1787
Annual growth to June
Oldham: +12.7%The North West: +18.6%UK: +13.2%
Best and worst annual growth in the North West
Pendle: +22.8%Preston: +7.3%