Rochdale house prices dropped slightly in March
House prices dropped slightly, by 0.6%, in Rochdale in March, new figures show.
But the drop does not reverse the longer-term trend, which has seen property prices in the area achieve 9.5% annual growth.
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Hide AdThe average Rochdale house price in March was £174,141, Land Registry figures show – a 0.6% decrease on February.
Over the month, the picture was worse than that across the North West, where prices increased 0.4%, and Rochdale underperformed compared to the 0.3% rise for the UK as a whole.
Over the last year, the average sale price of property in Rochdale rose by £15,000 – putting the area 24th among the North West’s 39 local authorities with price data for annual growth.
The best annual growth in the region was in Hyndburn, where property prices increased on average by 22.6%, to £129,000. At the other end of the scale, properties in Barrow gained just 3.4% in value, giving an average price of £138,000.
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Hide AdWinners and Losers
Owners of flats fared worst in Rochdale in March – they dropped 1.3% in price, to £91,304 on average. But over the last year, prices rose by 3.7%.
Among other types of property:
Detached: down 0.5% monthly; up 11.9% annually; £301,291 averageSemi-detached: down 0.2% monthly; up 10.6% annually; £185,143 averageTerraced: down 1% monthly; up 8.1% annually; £134,133 average
First steps on the property ladder
First-time buyers in Rochdale spent an average of £153,000 on their property – £13,000 more than a year ago, and £48,000 more than in March 2017.
By comparison, former owner-occupiers paid £196,000 on average in March – 27.8% more than first-time buyers.
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Hide AdHow do property prices in Rochdale compare?
Buyers paid 15.1% less than the average price in the North West (£205,000) in March for a property in Rochdale. Across the North West, property prices are lower than those across the UK, where the average cost £278,000.
The most expensive properties in the North West were in Trafford – £351,000 on average, and twice as much as more than in Rochdale. Trafford properties cost 3.2 times as much 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.
Factfile
Average property price in March
Rochdale: £174,141The North West:£205,121UK: £278,436
Annual growth to March
Rochdale: +9.5%The North West: +9.7%UK: +9.8%
Best and worst annual growth in the North West
Hyndburn: +22.6%Barrow: +3.4%