Stockport house prices increased slightly in February
House prices increased slightly, by 0.9%, in Stockport in February, new figures show.
The boost contributes to the longer-term trend, which has seen property prices in the area achieve 9.5% annual growth.
Advertisement
Hide AdAdvertisement
Hide AdThe average Stockport house price in February was £279,483, Land Registry figures show – a 0.9% increase on January.
Over the month, the picture was less good than that across the North West, where prices increased 1.6%, but Stockport outperformed the 0.5% rise for the UK as a whole.
Over the last year, the average sale price of property in Stockport rose by £24,000 – putting the area 24th 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 19.2%, to £124,000. At the other end of the scale, properties in Fylde gained just 3.7% in value, giving an average price of £218,000.
Advertisement
Hide AdAdvertisement
Hide AdWinners and Losers
Owners of flats saw the biggest improvement in property prices in Stockport in February – they increased 1.2%, to £163,203 on average. Over the last year, prices rose by 5.5%.
Among other types of property:
Detached: up 1% monthly; up 12.2% annually; £489,903 averageSemi-detached: up 0.9% monthly; up 9.9% annually; £298,405 averageTerraced: up 0.9% monthly; up 8.7% annually; £212,077 average
First steps on the property ladder
First-time buyers in Stockport spent an average of £225,000 on their property – £18,000 more than a year ago, and £62,000 more than in February 2017.
By comparison, former owner-occupiers paid £324,000 on average in February – 44% more than first-time buyers.
Advertisement
Hide AdAdvertisement
Hide AdHow do property prices in Stockport compare?
Buyers paid 37.3% more than the average price in the North West (£204,000) in February for a property in Stockport. Across the North West, property prices are high compared to those across the UK, where the average cost £277,000.
The most expensive properties in the North West were in Trafford – £351,000 on average, and 1.3 times as much as more than in Stockport. Trafford properties cost 3.1 times as much as homes in Burnley (£112,000 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 February
Stockport: £279,483The North West:£203,538UK: £276,755
Annual growth to February
Stockport: +9.5%The North West: +10.2%UK: +10.9%
Best and worst annual growth in the North West
Hyndburn: +19.2%Fylde: +3.7%