Stockport house prices increased in November

House prices increased by 2.1% in Stockport in November, new figures show.

The rise contributes to the longer-term trend, which has seen property prices in the area grow by 0.8% over the last year.

The average Stockport house price in November was £307,106, Land Registry figures show – a 2.1% increase on October.

Over the month, the picture was different to that across the North West, where prices decreased 0.9%, and Stockport was above the 0.8% drop for the UK as a whole.

Over the last year, the average sale price of property in Stockport rose by £2,600 – putting the area eighth 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.

First steps on the property ladder

First-time buyers in Stockport spent an average of £246,900 on their property – £1,300 more than a year ago, and £62,500 more than in November 2018.

By comparison, former owner-occupiers paid £355,700 on average in November – 44.1% more than first-time buyers.

Property types

Owners of flats saw the biggest rise in property prices in Stockport in November – they increased 2.9%, to £174,650 on average. Over the last year, prices rose by 0.5%.

Among other types of property:

• Detached: up 2% monthly; up 1.2% annually; £534,246 average
• Semi-detached: up 2.2% monthly; up 1.4% annually; £330,681 average
• Terraced: up 1.8% monthly; down 0% annually; £233,771 average

How do property prices in Stockport compare?

Buyers paid 44% more than the average price in the North West (£213,000) in November 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 3.5 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

• Stockport: £307,106
• The North West:£213,333
• UK: £284,950

Annual change to November

• Stockport: +0.8%
• The North West: -2%
• UK: -2.1%

Highest and lowest annual growth in the North West

• West Lancashire: +9.6%
• Burnley: -11.1%