Warwick house prices increased slightly in November
House prices increased slightly, by 0.8%, in Warwick in November, new figures show.
The rise contributes to the longer-term trend, which has seen property prices in the area grow by 1.8% over the last year.
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Hide AdThe average Warwick house price in November was £369,823, Land Registry figures show – a 0.8% increase on October.
Over the month, the picture was different to that across West Midlands, where prices decreased 3.1%, and Warwick was above the 0.8% drop for the UK as a whole.
Over the last year, the average sale price of property in Warwick rose by £6,400 – putting the area fifth among West Midlands’s 30 local authorities with price data for annual growth.
The highest annual growth in the region was in Wychavon, where property prices increased on average by 6%, to £369,000. At the other end of the scale, properties in South Staffordshire lost 8.6% of their value, giving an average price of £276,000.
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Hide AdFirst steps on the property ladder
First-time buyers in Warwick spent an average of £299,200 on their property – £5,000 more than a year ago, and £44,700 more than in November 2018.
By comparison, former owner-occupiers paid £433,900 on average in November – 45% more than first-time buyers.
Property types
Owners of flats saw the biggest rise in property prices in Warwick in November – they increased 1.9%, to £222,074 on average. Over the last year, prices rose by 1.9%.
Among other types of property:
- Detached: up 0.5% monthly; up 2.5% annually; £665,902 average
- Semi-detached: up 0.6% monthly; up 2% annually; £393,862 average
- Terraced: up 0.4% monthly; up 0.7% annually; £323,427 average
How do property prices in Warwick compare?
Buyers paid 51.8% more than the average price in West Midlands (£244,000) in November for a property in Warwick. Across West Midlands, property prices are lower than those across the UK, where the average cost is £285,000.
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Hide AdThe most expensive properties in West Midlands were in Stratford-on-Avon – £410,000 on average, and 1.1 times the price as in Warwick. Stratford-on-Avon properties cost 2.9 times the price as homes in Stoke (£139,000 average), at the other end of the scale.
The highest property prices across the UK were in Kensington and Chelsea.
Factfile
Average property price in November
- Warwick: £369,823
- West Midlands:£243,655
- UK: £284,950
Annual change to November
- Warwick: +1.8%
- West Midlands: -3.4%
- UK: -2.1%
Highest and lowest annual growth in West Midlands
- Wychavon: +6%
- South Staffordshire: -8.6%