Slight increase for Rugby house prices, new figures show

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House prices increased slightly in Rugby in July, new figures show.

The boost contributes to the longer-term trend, which has seen property prices in the area achieve 1.7% annual growth.

The average Rugby house price in July was £236,238, Land Registry figures show – a 0.5% increase on June.

Over the month, the picture was less good than that across the West Midlands, where prices increased 1.2% .

Over the last year, the average sale price of property in Rugby rose by £3,900 – putting the area 15th among the West Midlands’s 30 local authorities for annual growth.

The best annual growth in the region was in Malvern Hills, where properties increased on average by 8.3%, to £274,000. At the other end of the scale, properties in Stratford-on-Avon dropped 4.1% in value, giving an average price of £306,000.

Owners of flats saw the biggest improvement in property prices in Rugby in July – they increased 1.1%, to £124,811 on average.

Over the last year, prices rose by 0.3%.

Buyers paid 18.2% more than the average price in the West Midlands (£200,000) in July for a property in Rugby. Across the West Midlands, property prices are roughly the same as those across the UK, where the average cost £233,000.

The most expensive properties in the West Midlands were in Warwick – £309,000 on average, and 1.3 times as much as in Rugby.

Warwick properties cost 2.8 times as much as homes in Stoke (£112,000 average), at the other end of the scale.

The highest property prices across the UK were in Kensington and Chelsea, where the average July sale price of £1.3 million could buy 15 properties in Burnley (average £84,000).