Trafford house prices increased more than North West average in July

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

House prices increased by 0.4% – more than the average for the North West – in Trafford in July, new figures show.

The rise contributes to the longer-term trend, which has seen property prices in the area grow by 0.3% over the last year.

The average Trafford house price in July was £362,348, Land Registry figures show – a 0.4% increase on June.

Over the month, the picture was similar to that across the North West, where prices increased 0.3%, but Trafford was lower than the 0.5% rise for the UK as a whole.

Over the last year, the average sale price of property in Trafford rose by £1,000 – putting the area 30th 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 9.1%, to £242,000. At the other end of the scale, properties in Halton lost 2.6% of their value, giving an average price of £180,000.

First steps on the property ladder

First-time buyers in Trafford spent an average of £298,730 on their property – £140 more than a year ago, and £70,190 more than in July 2018.

By comparison, former owner-occupiers paid £410,890 on average in July – 37.5% more than first-time buyers.

Property types

Owners of semi-detached houses saw the biggest rise in property prices in Trafford in July – they increased 0.5%, to £402,792 on average. Over the last year, prices rose by 0.3%.

Among other types of property:

Detached: up 0.5% monthly; up 0.9% annually; £685,193 average
Terraced: up 0.5% monthly; down 0.2% annually; £304,869 average
Flats: up 0.1% monthly; up 0.4% annually; £217,634 average

How do property prices in Trafford compare?

Buyers paid more for properties in Trafford than anywhere else in the North West in July. The average price paid would buy 3.2 homes in Burnley (£114,000), 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 £290,000.

Factfile

Average property price in July

Trafford: £362,348
The North West:£215,648
UK: £289,824

Annual growth to July

Trafford: +0.3%
The North West: +1%
UK: +0.6%

Highest and lowest annual growth in the North West

West Lancashire: +9.1%
Halton: -2.6%