Stockport house prices dropped in December

General view of estate agents signs outside a block of flats in Basingstoke, Hampshire.

House prices dropped by 1.7% in Stockport in December, new figures show.

The drop contributes to the longer-term trend, which has seen property prices in the area suffer a 0.2% annual decline.

The average Stockport house price in December was £301,781, Land Registry figures show – a 1.7% decrease on November.

Over the month, the picture was different to that across the North West, where prices increased 2.5%, and Stockport was lower than the 0.1% rise for the UK as a whole.

Over the last year, the average sale price of property in Stockport fell by £670 – putting the area 18th 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 9.8%, to £253,000. At the other end of the scale, properties in Hyndburn lost 7.8% of their value, giving an average price of £120,000.

First steps on the property ladder

First-time buyers in Stockport spent an average of £243,000 on their property – £1,100 less than a year ago, but £58,900 more than in December 2018.

By comparison, former owner-occupiers paid £349,000 on average in December – 43.6% more than first-time buyers.

Property types

Owners of detached houses saw the biggest fall in property prices in Stockport in December – they dropped 2.2% in price, to £521,889 on average. Over the last year, prices dropped by 0.4%.

Among other types of property:

Semi-detached:

Terraced:

Flats:

How do property prices in Stockport compare?

Buyers paid 38.2% more than the average price in the North West (£218,000) in December for a property in Stockport. Across the North West, property prices are low compared to those across the UK, where the average cost is £285,000.

The most expensive properties in the North West were in Trafford – £366,000 on average, and 1.2 times the price as in Stockport. Trafford properties cost 3.4 times the price as homes in Burnley (£107,000 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 December

Stockport: £301,781
The North West:£218,353
UK: £284,691

Annual change to December

Stockport: -0.2%
The North West: +1.2%
UK: -1.4%

Highest and lowest annual growth in the North West

West Lancashire: +9.8%
Hyndburn: -7.8%