Trafford house prices dropped slightly in September

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

House prices dropped slightly, by 0.1%, in Trafford in September, new figures show.

The drop contributes to the longer-term trend, which has seen property prices in the area suffer a 0.7% annual decline.

The average Trafford house price in September was £365,622, Land Registry figures show – a 0.1% decrease on August.

Over the month, the picture was different to that across the North West, where prices increased 0.5%, and Trafford was above the 0.5% drop for the UK as a whole.

Over the last year, the average sale price of property in Trafford fell by £2,700 – putting the area 25th among the North West’s 35 local authorities with price data for annual growth.

The highest annual growth in the region was in Ribble Valley, where property prices increased on average by 7.3%, to £284,000. At the other end of the scale, properties in Burnley lost 10.9% of their value, giving an average price of £105,000.

First steps on the property ladder

First-time buyers in Trafford spent an average of £301,600 on their property – £2,700 less than a year ago, but £60,700 more than in September 2018.

By comparison, former owner-occupiers paid £414,500 on average in September – 37.5% more than first-time buyers.

Property types

Owners of flats saw the biggest fall in property prices in Trafford in September – they dropped 0.2% in price, to £218,318 on average. Over the last year, prices dropped by 0.6%.

Among other types of property:

Detached: down 0% monthly; up 0.4% annually; £693,253 average
Semi-detached: down 0.1% monthly; down 0.8% annually; £406,275 average
Terraced: up 0.1% monthly; down 1.4% annually; £308,702 average

How do property prices in Trafford compare?

Buyers paid more for properties in Trafford than anywhere else in the North West in September. The average price paid would buy 3.5 homes in Burnley (£105,000), 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 £291,000.

Factfile

Average property price in September

Trafford: £365,622
The North West:£218,013
UK: £291,385

Annual change to September

Trafford: -0.7%
The North West: +0.6%
UK: -0.1%

Highest and lowest annual growth in the North West

Ribble Valley: +7.3%
Burnley: -10.9%