Nuneaton and Bedworth house prices increased more than West Midlands average in July

House prices increased by 0.3% – more than the average for West Midlands – in Nuneaton and Bedworth in July, 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 Nuneaton and Bedworth house price in July was £229,900, Land Registry figures show – a 0.3% increase on June.

Over the month, the picture was similar to that across West Midlands, where prices increased 0.2%, but Nuneaton and Bedworth was lower than the 0.5% rise for the UK as a whole.

Over the last year, the average sale price of property in Nuneaton and Bedworth rose by £2,700 – putting the area 21st among West Midlands’s 30 local authorities with price data for annual growth.

The highest annual growth in the region was in Malvern Hills, where property prices increased on average by 7.1%, to £340,000. At the other end of the scale, properties in Staffordshire Moorlands lost 2.4% of their value, giving an average price of £223,000.

First steps on the property ladder

First-time buyers in Nuneaton and Bedworth spent an average of £200,400 on their property – £1,800 more than a year ago, and £49,100 more than in July 2018.

By comparison, former owner-occupiers paid £260,000 on average in July – 29.7% more than first-time buyers.

Property types

Owners of terraced houses saw the biggest rise in property prices in Nuneaton and Bedworth in July – they increased 0.5%, to £178,159 on average. Over the last year, prices rose by 0.3%.

Among other types of property:

• Detached: up 0.3% monthly; up 3% annually; £374,170 average
• Semi-detached: up 0.3% monthly; up 0.9% annually; £224,987 average
• Flats: down 0.1% monthly; down 1% annually; £112,740 average

How do property prices in Nuneaton and Bedworth compare?

Buyers paid 8.5% less than the average price in West Midlands (£251,000) in July for a property in Nuneaton and Bedworth. Across West Midlands, property prices are lower than those across the UK, where the average cost is £290,000.

The most expensive properties in West Midlands were in Stratford-on-Avon – £385,000 on average, and 1.7 times the price as in Nuneaton and Bedworth. Stratford-on-Avon properties cost 2.7 times the price as homes in Stoke (£144,000 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 July

• Nuneaton and Bedworth: £229,900
• West Midlands:£251,313
• UK: £289,824

Annual growth to July

• Nuneaton and Bedworth: +1.2%
• West Midlands: +0.4%
• UK: +0.6%

Highest and lowest annual growth in West Midlands

• Malvern Hills: +7.1%
• Staffordshire Moorlands: -2.4%