Tameside house prices increased in January

EMBARGOED TO 00001 TUESDAY OCTOBER 26 File photo dated 14/10/14 of estate agents boards. The housing market is set to record its highest level of sales this year since 2007, according to a property website. Issue date: Tuesday October 26, 2021.

House prices increased by 3.9% in Tameside in January, new figures show.

The boost contributes to the longer-term trend, which has seen property prices in the area achieve 19.1% annual growth – the highest in the North West.

The average Tameside house price in January was £199,689, Land Registry figures show – a 3.9% increase on December.

Over the month, the picture was better than that across the North West, where prices decreased 0.3%, and Tameside outperformed the 0.4% rise for the UK as a whole.

Over the last year, the average sale price of property in Tameside rose by £32,000 – putting the area top among the North West’s 39 local authorities with price data for annual growth.

At the other end of the scale, properties in Allerdale gained just 2.5% in value, giving an average price of £170,000.

Winners and Losers

Owners of flats saw the biggest improvement in property prices in Tameside in January – they increased 4.2%, to £126,308 on average. Over the last year, prices rose by 14.6%.

Among other types of property:

Detached: up 3.5% monthly; up 22.1% annually; £348,672 averageSemi-detached: up 4% monthly; up 19.9% annually; £219,430 averageTerraced: up 4% monthly; up 18.2% annually; £164,799 average

First steps on the property ladder

First-time buyers in Tameside spent an average of £179,000 on their property – £28,000 more than a year ago, and £58,000 more than in January 2017.

By comparison, former owner-occupiers paid £224,000 on average in January – 25% more than first-time buyers.

How do property prices in Tameside compare?

Buyers paid roughly the same as the average price in the North West (£200,000) in January for a property in Tameside. Across the North West, property prices are roughly the same as those across the UK, where the average cost £274,000.

The most expensive properties in the North West were in Trafford – £347,000 on average, and 1.7 times as much as more than in Tameside. Trafford properties cost 3.1 times as much as homes in Burnley (£110,000 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 January

Tameside: £199,689The North West:£199,791UK: £273,762

Annual growth to January

Tameside: +19.1%The North West: +9.6%UK: +9.6%

Best and worst annual growth in the North West

Tameside: +19.1%Allerdale: +2.5%