Trafford house prices increased in August

By Andrew Dowdeswell, Data Reporter
Published 18th Oct 2023, 16:36 BST
General view of estate agents signs outside a block of flats in Basingstoke, Hampshire.General view of estate agents signs outside a block of flats in Basingstoke, Hampshire.
General view of estate agents signs outside a block of flats in Basingstoke, Hampshire.
House prices increased by 2.1% in Trafford in August, new figures show.

House prices increased by 2.1% in Trafford in August, new figures show.

The rise contributes to the longer-term trend, which has seen property prices in the area grow by 1.9% over the last year.

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The average Trafford house price in August was £371,881, Land Registry figures show – a 2.1% increase on July.

Over the month, the picture was different to that across the North West, where prices remained static, and Trafford was above the 0.3% rise for the UK as a whole.

Over the last year, the average sale price of property in Trafford rose by £7,000 – putting the area 15th 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 6.8%, to £284,000. At the other end of the scale, properties in Burnley lost 5.6% of their value, giving an average price of £111,000.

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First steps on the property ladder

First-time buyers in Trafford spent an average of £306,400 on their property – £4,900 more than a year ago, and £72,900 more than in August 2018.

By comparison, former owner-occupiers paid £422,000 on average in August – 37.8% more than first-time buyers.

Property types

Owners of detached houses saw the biggest rise in property prices in Trafford in August – they increased 2.5%, to £704,714 on average. Over the last year, prices rose by 3.1%.

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 August. The average price paid would buy 3.4 homes in Burnley (£111,000), at the other end of the scale.

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The highest property prices across the UK were in Kensington and Chelsea (£1.4 million).

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 August

  • Trafford: £371,881
  • The North West:£215,791
  • UK: £291,044

Annual growth to August

  • Trafford: +1.9%
  • The North West: +0.4%
  • UK: +0.2%

Highest and lowest annual growth in the North West

  • Ribble Valley: +6.8%
  • Burnley: -5.6%