Trafford house prices dropped more than North West average in November

General view of estate agents signs outside a block of flats in Basingstoke, Hampshire.

House prices dropped by 2.4% – more than the average for the North West – in Trafford in November, new figures show.

The drop contributes to the longer-term trend, which has seen property prices in the area suffer a 1.5% annual decline.

The average Trafford house price in November was £366,031, Land Registry figures show – a 2.4% decrease on October.

Over the month, the picture was different to that across the North West, where prices decreased 0.9%, and Trafford was lower than the 0.8% drop for the UK as a whole.

Over the last year, the average sale price of property in Trafford fell by £5,700 – putting the area 21st 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 9.6%, to £251,000. At the other end of the scale, properties in Burnley lost 11.1% of their value, giving an average price of £104,000.

First steps on the property ladder

First-time buyers in Trafford spent an average of £302,400 on their property – £4,800 less than a year ago, but £56,400 more than in November 2018.

By comparison, former owner-occupiers paid £414,400 on average in November – 37% more than first-time buyers.

Property types

Owners of detached houses saw the biggest fall in property prices in Trafford in November – they dropped 3.1% in price, to £685,686 on average. Over the last year, prices dropped by 1.8%.

Among other types of property:

Semi-detached:

Terraced:

Flats:

How do property prices in Trafford compare?

Buyers paid more for properties in Trafford than anywhere else in the North West in November. The average price paid would buy 3.5 homes in Burnley (£104,000), at the other end of the scale.

The highest property prices across the UK were in Kensington and Chelsea.

Across the North West, property prices are low compared to those across the UK, where the average cost is £285,000.

Factfile

Average property price in November

Trafford: £366,031
The North West:£213,333
UK: £284,950

Annual change to November

Trafford: -1.5%
The North West: -2%
UK: -2.1%

Highest and lowest annual growth in the North West

West Lancashire: +9.6%
Burnley: -11.1%