Stratford-on-Avon house prices dropped in May

By Sonja Tutty, Data Reporter
Published 19th Jul 2023, 11:51 BST
General view of estate agents signs outside a block of flats in Basingstoke, Hampshire.General view of estate agents signs outside a block of flats in Basingstoke, Hampshire.
General view of estate agents signs outside a block of flats in Basingstoke, Hampshire.
House prices dropped by 1.2% in Stratford-on-Avon in May, new figures show.

House prices dropped by 1.2% in Stratford-on-Avon in May, new figures show.

But the drop does not reverse the longer-term trend, which has seen property prices in the area grow by 2% over the last year.

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The average Stratford-on-Avon house price in May was £383,498, Land Registry figures show – a 1.2% decrease on April.

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    Over the month, the picture was different to that across West Midlands, where prices increased 0.5%, and Stratford-on-Avon was lower than the UK as a whole, where prices did not change.

    Over the last year, the average sale price of property in Stratford-on-Avon rose by £7,400 – putting the area 17th among West Midlands’s 30 local authorities with price data for annual growth.

    The highest annual growth in the region was in Telford and Wrekin, where property prices increased on average by 9.1%, to £227,000. At the other end of the scale, properties in North Warwickshire lost 4.7% of their value, giving an average price of £242,000.

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    First steps on the property ladder

    First-time buyers in Stratford-on-Avon spent an average of £297,300 on their property – £5,800 more than a year ago, and £50,800 more than in May 2018.

    By comparison, former owner-occupiers paid £431,700 on average in May – 45.2% more than first-time buyers.

    Property types

    Owners of detached houses saw the biggest fall in property prices in Stratford-on-Avon in May – they dropped 1.4% in price, to £608,484 on average. But over the last year, prices rose by 2.8%.

    Among other types of property:

    Semi-detached:
    Terraced:
    Flats:

    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 May. The average price paid would buy 2.7 homes in Stoke (£144,000), at the other end of the scale.

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    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 £286,000.

    Factfile

    Average property price in May

    • Stratford-on-Avon: £383,498
    • West Midlands:£248,166
    • UK: £285,861

    Annual growth to May

    • Stratford-on-Avon: +2%
    • West Midlands: +2.2%
    • UK: +1.9%

    Highest and lowest annual growth in West Midlands

    • Telford and Wrekin: +9.1%
    • North Warwickshire: -4.7%