Trafford house prices increased slightly in February

EMBARGOED TO 00001 TUESDAY OCTOBER 26 File photo dated 14/10/14 of estate agents boards. The housing market is set to record its highest level of sales this year since 2007, according to a property website. Issue date: Tuesday October 26, 2021.

House prices increased slightly, by 0.1%, in Trafford in February, new figures show.

The boost contributes to the longer-term trend, which has seen property prices in the area achieve 8.2% annual growth.

The average Trafford house price in February was £351,259, Land Registry figures show – a 0.1% increase on January.

Over the month, the picture was less good than that across the North West, where prices increased 1.6%, and Trafford underperformed compared to the 0.5% rise for the UK as a whole.

Over the last year, the average sale price of property in Trafford rose by £27,000 – putting the area 28th among the North West’s 39 local authorities with price data for annual growth.

The best annual growth in the region was in Hyndburn, where property prices increased on average by 19.2%, to £124,000. At the other end of the scale, properties in Fylde gained just 3.7% in value, giving an average price of £218,000.

Winners and Losers

Owners of flats saw the biggest improvement in property prices in Trafford in February – they increased 0.4%, to £215,154 on average. Over the last year, prices rose by 5.6%.

Among other types of property:

Detached: down 0.3% monthly; up 10.7% annually; £659,735 averageSemi-detached: up 0.1% monthly; up 9.1% annually; £389,305 averageTerraced: up 0% monthly; up 7.6% annually; £294,369 average

First steps on the property ladder

First-time buyers in Trafford spent an average of £290,000 on their property – £20,000 more than a year ago, and £77,000 more than in February 2017.

By comparison, former owner-occupiers paid £398,000 on average in February – 37% more than first-time buyers.

How do property prices in Trafford compare?

Buyers paid more for properties in Trafford than anywhere else in the North West in February. The average price paid would buy 3.1 homes in Burnley (£112,000), 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 high compared to those across the UK, where the average cost £277,000.

Factfile

Average property price in February

Trafford: £351,259The North West:£203,538UK: £276,755

Annual growth to February

Trafford: +8.2%The North West: +10.2%UK: +10.9%

Best and worst annual growth in the North West

Hyndburn: +19.2%Fylde: +3.7%