Trafford house prices increased in October

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

House prices increased by 2.4% in Trafford in October, new figures show.

The rise contributes to the longer-term trend, which has seen property prices in the area grow by 1.2% over the last year.

The average Trafford house price in October was £375,384, Land Registry figures show – a 2.4% increase on September.

Over the month, the picture was different to that across the North West, where prices decreased 0.4%, and Trafford was above the 0.7% drop for the UK as a whole.

Over the last year, the average sale price of property in Trafford rose by £4,600 – putting the area 11th among the North West’s 35 local authorities with price data for annual growth.

The highest annual growth in the region was in St Helens, where property prices increased on average by 5.5%, to £185,000. At the other end of the scale, properties in Tameside lost 4.6% of their value, giving an average price of £204,000.

First steps on the property ladder

First-time buyers in Trafford spent an average of £309,500 on their property – £3,100 more than a year ago, and £67,700 more than in October 2018.

By comparison, former owner-occupiers paid £425,800 on average in October – 37.6% more than first-time buyers.

Property types

Owners of semi-detached houses saw the biggest rise in property prices in Trafford in October – they increased 2.6%, to £419,435 on average. Over the last year, prices rose by 1.7%.

Among other types of property:

Detached: up 2.5% monthly; up 2% annually; £709,874 average
Terraced: up 2.3% monthly; up 0.8% annually; £317,058 average
Flats: up 2.3% monthly; up 0.4% annually; £221,952 average

How do property prices in Trafford compare?

Buyers paid more for properties in Trafford than anywhere else in the North West in October. The average price paid would buy 3.3 homes in Burnley (£114,000), at the other end of the scale.

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

Across the North West, property prices are low compared to those across the UK, where the average cost is £288,000.

Factfile

Average property price in October

Trafford: £375,384
The North West:£215,719
UK: £287,782

Annual change to October

Trafford: +1.2%
The North West: -0.4%
UK: -1.2%

Highest and lowest annual growth in the North West

St Helens: +5.5%
Tameside: -4.6%