Tameside house prices increased slightly in May

House prices increased slightly, by 0.2%, in Tameside in May, new figures show.

The rise contributes to the longer-term trend, which has seen property prices in the area grow by 2.3% over the last year.

The average Tameside house price in May was £205,169, Land Registry figures show – a 0.2% increase on April.

Over the month, the picture was similar to that across the North West, where prices decreased 0.2%, and Tameside was above the UK as a whole, where prices did not change.

Over the last year, the average sale price of property in Tameside rose by £4,600 – putting the area 27th among the North West’s 35 local authorities with price data for annual growth.

The highest annual growth in the region was in West Lancashire, where property prices increased on average by 12%, to £239,000. At the other end of the scale, properties in Hyndburn lost 1.3% of their value, giving an average price of £118,000.

First steps on the property ladder

First-time buyers in Tameside spent an average of £184,200 on their property – £3,900 more than a year ago, and £55,500 more than in May 2018.

By comparison, former owner-occupiers paid £229,900 on average in May – 24.8% more than first-time buyers.

Property types

Owners of flats saw the biggest rise in property prices in Tameside in May – they increased 0.6%, to £128,785 on average. Over the last year, prices rose by 2.3%.

Among other types of property:

• Detached: down 0% monthly; up 2.8% annually; £356,128 average
• Semi-detached: up 0% monthly; up 2.7% annually; £226,454 average
• Terraced: up 0.2% monthly; up 1.7% annually; £169,026 average

How do property prices in Tameside compare?

Buyers paid 3.1% less than the average price in the North West (£212,000) in May for a property in Tameside. Across the North West, property prices are low compared to those across the UK, where the average cost is £286,000.

The most expensive properties in the North West were in Trafford – £360,000 on average, and 1.8 times the price as in Tameside. Trafford properties cost 3.2 times the price as homes in Burnley (£111,000 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 May

• Tameside: £205,169
• The North West:£211,790
• UK: £285,861

Annual growth to May

• Tameside: +2.3%
• The North West: +2.7%
• UK: +1.9%

Highest and lowest annual growth in the North West

• West Lancashire: +12%
• Hyndburn: -1.3%