Stockport house prices increased in June

File photo dated 14/10/14 of sold and for sale signs. House prices across the UK are expected to increase by 4 percent this year, according to a property group's forecasts. Issue date: Tuesday March 9, 2021.

House prices increased by 2.3% in Stockport in June, new figures show.

The boost contributes to the longer-term trend, which has seen property prices in the area achieve 13.3% annual growth.

The average Stockport house price in June was £265,961.7635, Land Registry figures show – a 2.3% increase on May.

Over the month, the picture was less good than that across the North West, where prices increased 6.7661376%, and Stockport underperformed compared to the 4.4989563% rise for the UK as a whole.

Over the last year, the average sale price of property in Stockport rose by £31,000 – putting the area 28th 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

Owners of terraced houses saw the biggest improvement in property prices in Stockport in June – they increased 2.4%, to £203,553.4161 on average. Over the last year, prices rose by 13.8%.

Among other types of property:

Detached: up 2.3% monthly; up 14% annually; £456,564.5973 averageSemi-detached: up 2.3% monthly; up 13.2% annually; £282,790.3062 averageFlats: up 2.2% monthly; up 11% annually; £160,064.7117 average

First steps on the property ladder

First-time buyers in Stockport spent an average of £215,000 on their property – £25,000 more than a year ago, and £54,000 more than in June 2016.

By comparison, former owner-occupiers paid £306,000 on average in June – 42.5% more than first-time buyers.

How do property prices in Stockport compare?

Buyers paid 32.8% more than the average price in the North West (£200,000) in June for a property in Stockport. Across the North West, property prices are roughly the same as 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 1.2 times as much as in Stockport. 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

Stockport: £265,961.7635The North West:£200,221.9349UK: £265,668.1787

Annual growth to June

Stockport: +13.3%The North West: +18.6%UK: +13.2%

Best and worst annual growth in the North West

Pendle: +22.8%Preston: +7.3%