Tameside house prices dropped slightly in February

House prices dropped slightly, by 0.4%, in Tameside in February, new figures show.

But the drop does not reverse the longer-term trend, which has seen property prices in the area achieve 16.2% annual growth.

The average Tameside house price in February was £197,494, Land Registry figures show – a 0.4% decrease on January.

Over the month, the picture was worse than that across the North West, where prices increased 1.6%, and Tameside underperformed compared to the 0.5% rise for the UK as a whole.

Over the last year, the average sale price of property in Tameside rose by £28,000 – putting the area third 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.

Winners and Losers

Owners of terraced houses fared worst in Tameside in February – they dropped 0.5% in price, to £163,196 on average. But over the last year, prices rose by 15.5%.

Among other types of property:

Detached: down 0.2% monthly; up 19% annually; £344,650 averageSemi-detached: down 0.4% monthly; up 16.8% annually; £216,683 averageFlats: down 0.2% monthly; up 12% annually; £125,032 average

First steps on the property ladder

First-time buyers in Tameside spent an average of £177,000 on their property – £24,000 more than a year ago, and £59,000 more than in February 2017.

By comparison, former owner-occupiers paid £221,000 on average in February – 24.8% more than first-time buyers.

How do property prices in Tameside compare?

Buyers paid 3% less than the average price in the North West (£204,000) in February for a property in Tameside. Across the North West, property prices are lower than 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 1.8 times as much as more than in Tameside. 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

Tameside: £197,494The North West:£203,538UK: £276,755

Annual growth to February

Tameside: +16.2%The North West: +10.2%UK: +10.9%

Best and worst annual growth in the North West

Hyndburn: +19.2%Fylde: +3.7%