Stratford-on-Avon house prices dropped in July

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

House prices dropped by 2.7% in Stratford-on-Avon in July, new figures show.

The drop contributes to the longer-term trend, which has seen property prices in the area suffer a 1.6% annual decline.

The average Stratford-on-Avon house price in July was £385,360, Land Registry figures show – a 2.7% decrease on June.

Over the month, the picture was different to that across West Midlands, where prices increased 0.2%, and Stratford-on-Avon was lower than the 0.5% rise for the UK as a whole.

Over the last year, the average sale price of property in Stratford-on-Avon fell by £6,400 – putting the area 27th 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 Stratford-on-Avon spent an average of £298,700 on their property – £5,500 less than a year ago, but £47,100 more than in July 2018.

By comparison, former owner-occupiers paid £433,800 on average in July – 45.2% more than first-time buyers.

Property types

Owners of flats saw the biggest fall in property prices in Stratford-on-Avon in July – they dropped 3.1% in price, to £185,319 on average. Over the last year, prices dropped by 3.2%.

Among other types of property:

Detached: down 2.7% monthly; down 0.7% annually; £609,747 average
Semi-detached: down 2.7% monthly; down 1.5% annually; £361,749 average
Terraced: down 2.7% monthly; down 3% annually; £288,085 average

How do property prices in Stratford-on-Avon compare?

Buyers paid more for properties in Stratford-on-Avon than anywhere else in West Midlands in July. The average price paid would buy 2.7 homes in Stoke (£144,000), at the other end of the scale.

The highest property prices across the UK were in Kensington and Chelsea.

Across West Midlands, property prices are lower than those across the UK, where the average cost is £290,000.

Factfile

Average property price in July

Stratford-on-Avon: £385,360
West Midlands:£251,313
UK: £289,824

Annual change to July

Stratford-on-Avon: -1.6%
West Midlands: +0.4%
UK: +0.6%

Highest and lowest annual growth in West Midlands

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