Rochdale house prices held steady in November
House prices remained steady in Rochdale in November, new figures show.
The lack of movement maintains the longer-term trend, which has seen property prices in the area suffer a 2.5% annual decline.
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Hide AdThe average Rochdale house price in November was £189,452, Land Registry figures show – largely unchanged from October.
Over the month, the picture was different to that across the North West, where prices decreased 0.9%, and Rochdale was above the 0.8% drop for the UK as a whole.
Over the last year, the average sale price of property in Rochdale fell by £4,900 – putting the area 26th among the North West’s 35 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 9.6%, to £251,000. At the other end of the scale, properties in Burnley lost 11.1% of their value, giving an average price of £104,000.
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Hide AdFirst steps on the property ladder
First-time buyers in Rochdale spent an average of £166,900 on their property – £4,500 less than a year ago, but £45,200 more than in November 2018.
By comparison, former owner-occupiers paid £213,200 on average in November – 27.8% more than first-time buyers.
Property types
Owners of terraced houses saw the biggest fall in property prices in Rochdale in November – they dropped 0.4% in price, to £145,793 on average. Over the last year, prices dropped by 3.9%.
Among other types of property:
- Detached: up 0.4% monthly; down 0.9% annually; £328,084 average
- Semi-detached: up 0.1% monthly; down 1.5% annually; £202,495 average
- Flats: up 0.7% monthly; down 3.7% annually; £97,563 average
How do property prices in Rochdale compare?
Buyers paid 11.2% less than the average price in the North West (£213,000) in November for a property in Rochdale. Across the North West, property prices are low compared to those across the UK, where the average cost is £285,000.
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Hide AdThe most expensive properties in the North West were in Trafford – £366,000 on average, and 1.9 times the price as in Rochdale. Trafford properties cost 3.5 times the price as homes in Burnley (£104,000 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 November
- Rochdale: £189,452
- The North West:£213,333
- UK: £284,950
Annual change to November
- Rochdale: -2.5%
- The North West: -2%
- UK: -2.1%
Highest and lowest annual growth in the North West
- West Lancashire: +9.6%
- Burnley: -11.1%