Tameside house prices dropped slightly in June
House prices dropped slightly, by 0.3%, in Tameside in June, new figures show.
But the drop does not reverse the longer-term trend, which has seen property prices in the area grow by 12.1% over the last year.
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Hide AdThe average Tameside house price in June was £200,255, Land Registry figures show – a 0.3% decrease on May.
Over the month, the picture was different to that across the North West, where prices increased 2.1%, and Tameside was lower than the 1% rise for the UK as a whole.
Over the last year, the average sale price of property in Tameside rose by £22,000 – putting the area 11th among the North West’s 39 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 19.5%, to £184,000. At the other end of the scale, properties in Allerdale gained 1.1% in value, giving an average price of £175,000.
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Hide AdAn imbalance between supply and demand for properties has remained the primary reason behind climbing house prices across the UK throughout the pandemic.
But activity is starting to slow, with soaring inflation putting household budgets under pressure.
First steps on the property ladder
First-time buyers in Tameside spent an average of £180,000 on their property – £19,000 more than a year ago, and £57,000 more than in June 2017.
By comparison, former owner-occupiers paid £224,000 on average in June – 24.2% more than first-time buyers.
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Owners of detached houses saw the biggest fall in property prices Tameside in June – they dropped 0.9% in price, to £344,179 on average. But over the last year, prices rose by 13.2%.
Among other types of property:
Semi-detached: down 0.4% monthly; up 13.2% annually; £220,241 averageTerraced: down 0.1% monthly; up 11.5% annually; £166,255 averageFlats: down 0.4% monthly; up 6.9% annually; £124,692 average
How do property prices in Tameside compare?
Buyers paid 5.7% less than the average price in the North West (£212,000) in June for a property in Tameside. Across the North West, property prices are lower than those across the UK, where the average cost £286,000.
The most expensive properties in the North West were in Trafford – £362,000 on average, and 1.8 times as much as more than in Tameside. Trafford properties cost three times as much as homes in Burnley (£120,000 average), at the other end of the scale.
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Factfile
Average property price in June
Tameside: £200,255The North West:£212,347UK: £286,397
Annual growth to June
Tameside: +12.1%The North West: +6.2%UK: +7.8%
Highest and lowest annual growth in the North West
St Helens: +19.5%Allerdale: +1.1%