Stockport house prices increased more than North West average in March
House prices increased by 1.8% – more than the average for the North West – in Stockport in March, new figures show.
The boost contributes to the longer-term trend, which has seen property prices in the area achieve 10.2% annual growth.
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Hide AdThe average Stockport house price in March was £282,280, Land Registry figures show – a 1.8% increase on February.
Over the month, the picture was better than that across the North West, where prices increased 0.4%, and Stockport outperformed the 0.3% rise for the UK as a whole.
Over the last year, the average sale price of property in Stockport rose by £26,000 – putting the area 21st among the North West’s 39 local authorities with price data for annual growth.
The best annual growth in the region was in Hyndburn, where property prices increased on average by 22.6%, to £129,000. At the other end of the scale, properties in Barrow gained just 3.4% in value, giving an average price of £138,000.
Winners and Losers
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Hide AdOwners of semi-detached houses saw the biggest improvement in property prices in Stockport in March – they increased 2%, to £301,975 on average. Over the last year, prices rose by 10.8%.
Among other types of property:
Detached: up 1.8% monthly; up 12.8% annually; £494,126 averageTerraced: up 1.6% monthly; up 9.3% annually; £214,066 averageFlats: up 1.4% monthly; up 5.8% annually; £164,044 average
First steps on the property ladder
First-time buyers in Stockport spent an average of £227,000 on their property – £20,000 more than a year ago, and £64,000 more than in March 2017.
By comparison, former owner-occupiers paid £327,000 on average in March – 43.8% more than first-time buyers.
How do property prices in Stockport compare?
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Hide AdBuyers paid 37.6% more than the average price in the North West (£205,000) in March for a property in Stockport. Across the North West, property prices are high compared to those across the UK, where the average cost £278,000.
The most expensive properties in the North West were in Trafford – £351,000 on average, and 1.2 times as much as more than in Stockport. Trafford properties cost 3.2 times as much as homes in Burnley (£111,000 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 March
Stockport: £282,280The North West:£205,121UK: £278,436
Annual growth to March
Stockport: +10.2%The North West: +9.7%UK: +9.8%
Best and worst annual growth in the North West
Hyndburn: +22.6%Barrow: +3.4%