Stockport house prices dropped in April

House prices dropped by 2.1% in Stockport in April, new figures show.

But the drop does not reverse the longer-term trend, which has seen property prices in the area grow by 4.7% over the last year.

The average Stockport house price in April was £294,866, Land Registry figures show – a 2.1% decrease on March.

Over the month, the picture was different to that across the North West, where prices increased 0.7%, and Stockport was lower than the 0.5% rise for the UK as a whole.

Over the last year, the average sale price of property in Stockport rose by £13,000 – putting the area 21st among the North West’s 35 local authorities with price data for annual growth.

The highest annual growth in the region was in Fylde, where property prices increased on average by 15.5%, to £249,000. At the other end of the scale, properties in Blackpool gained 0.4% in value, giving an average price of £130,000.

First steps on the property ladder

First-time buyers in Stockport spent an average of £236,900 on their property – £10,000 more than a year ago, and £61,700 more than in April 2018.

By comparison, former owner-occupiers paid £341,500 on average in April – 44.1% more than first-time buyers.

Property types

Owners of terraced houses saw the biggest fall in property prices in Stockport in April – they dropped 2.4% in price, to £223,634 on average. But over the last year, prices rose by 4.2%.

Among other types of property:

• Detached: down 2.1% monthly; up 4.7% annually; £514,655 average
• Semi-detached: down 2.1% monthly; up 5% annually; £316,461 average
• Flats: down 1.8% monthly; up 3.8% annually; £169,595 average

How do property prices in Stockport compare?

Buyers paid 38.6% more than the average price in the North West (£213,000) in April for a property in Stockport. Across the North West, property prices are low compared to those across the UK, where the average cost £286,000.

The most expensive properties in the North West were in Trafford – £363,000 on average, and 1.2 times the price as in Stockport. Trafford properties cost 3.2 times the price as homes in Burnley (£115,000 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 April

• Stockport: £294,866
• The North West:£212,814
• UK: £286,489

Annual growth to April

• Stockport: +4.7%
• The North West: +4.8%
• UK: +3.5%

Highest and lowest annual growth in the North West

• Fylde: +15.5%
• Blackpool: +0.4%