Trafford house prices increased slightly in December

House prices increased slightly, by 0.5%, in Trafford in December, new figures show.

But the rise does not reverse the longer-term trend, which has seen property prices in the area suffer a 1% annual decline.

The average Trafford house price in December was £366,427, Land Registry figures show – a 0.5% increase on November.

Over the month, the picture was different to that across the North West, where prices increased 2.5%, but Trafford was above the 0.1% rise for the UK as a whole.

Over the last year, the average sale price of property in Trafford fell by £3,500 – putting the area 22nd 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 9.8%, to £253,000. At the other end of the scale, properties in Hyndburn lost 7.8% of their value, giving an average price of £120,000.

First steps on the property ladder

First-time buyers in Trafford spent an average of £303,200 on their property – £2,900 less than a year ago, but £59,800 more than in December 2018.

By comparison, former owner-occupiers paid £414,300 on average in December – 36.7% more than first-time buyers.

Property types

Owners of flats saw the biggest rise in property prices in Trafford in December – they increased 1%, to £218,431 on average. Over the last year, prices dropped by 1.3%.

Among other types of property:

• Detached: down 0.6% monthly; down 1.8% annually; £681,610 average
• Semi-detached: up 0.7% monthly; down 0.3% annually; £410,403 average
• Terraced: up 0.5% monthly; down 1.4% annually; £309,228 average

How do property prices in Trafford compare?

Buyers paid more for properties in Trafford than anywhere else in the North West in December. The average price paid would buy 3.4 homes in Burnley (£107,000), 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 December

• Trafford: £366,427
• The North West:£218,353
• UK: £284,691

Annual change to December

• Trafford: -1%
• The North West: +1.2%
• UK: -1.4%

Highest and lowest annual growth in the North West

• West Lancashire: +9.8%
• Hyndburn: -7.8%