Tameside house prices dropped more than North West average in October

House prices dropped by 2.5% – more than the average for the North West – in Tameside in October, new figures show.

The drop contributes to the longer-term trend, which has seen property prices in the area suffer a 4.6% annual decline – the worst in the North West.

The average Tameside house price in October was £204,139, Land Registry figures show – a 2.5% decrease on September.

Over the month, the picture was different to that across the North West, where prices decreased 0.4%, and Tameside was lower than the 0.7% drop for the UK as a whole.

Over the last year, the average sale price of property in Tameside fell by £9,900 – putting the area bottom among the North West’s 35 local authorities with price data for annual growth.

The highest annual growth in the region was in St Helens, where property prices increased on average by 5.5%, to £185,000.

First steps on the property ladder

First-time buyers in Tameside spent an average of £183,500 on their property – £9,200 less than a year ago, but £50,700 more than in October 2018.

By comparison, former owner-occupiers paid £228,400 on average in October – 24.5% more than first-time buyers.

Property types

Owners of terraced houses saw the biggest fall in property prices in Tameside in October – they dropped 2.6% in price, to £168,854 on average. Over the last year, prices dropped by 5.2%.

Among other types of property:

• Detached: down 2.2% monthly; down 3.7% annually; £353,065 average
• Semi-detached: down 2.4% monthly; down 4.1% annually; £225,540 average
• Flats: down 2.5% monthly; down 5.4% annually; £125,787 average

How do property prices in Tameside compare?

Buyers paid 5.4% less than the average price in the North West (£216,000) in October for a property in Tameside. Across the North West, property prices are low compared to those across the UK, where the average cost is £288,000.

The most expensive properties in the North West were in Trafford – £375,000 on average, and 1.8 times the price as in Tameside. Trafford properties cost 3.3 times the price as homes in Burnley (£114,000 average), at the other end of the scale.

The highest property prices across the UK were in Kensington and Chelsea, at £1.4 million.

Factfile

Average property price in October

• Tameside: £204,139
• The North West:£215,719
• UK: £287,782

Annual change to October

• Tameside: -4.6%
• The North West: -0.4%
• UK: -1.2%

Highest and lowest annual growth in the North West

• St Helens: +5.5%
• Tameside: -4.6%