Nuneaton and Bedworth house prices increased in October

House prices increased by 1.6% in Nuneaton and Bedworth in October, new figures show.

The rise contributes to the longer-term trend, which has seen property prices in the area grow by 4.2% over the last year.

The average Nuneaton and Bedworth house price in October was £242,892, Land Registry figures show – a 1.6% increase on September.

Over the month, the picture was different to that across West Midlands, where prices decreased 0.5%, and Nuneaton and Bedworth was above the 0.7% drop for the UK as a whole.

Over the last year, the average sale price of property in Nuneaton and Bedworth rose by £9,700 – putting the area third among West Midlands’s 30 local authorities with price data for annual growth.

The highest annual growth in the region was in Stratford-on-Avon, where property prices increased on average by 6.9%, to £421,000. At the other end of the scale, properties in Herefordshire lost 4.2% of their value, giving an average price of £297,000.

First steps on the property ladder

First-time buyers in Nuneaton and Bedworth spent an average of £211,800 on their property – £8,000 more than a year ago, and £57,400 more than in October 2018.

By comparison, former owner-occupiers paid £274,700 on average in October – 29.7% more than first-time buyers.

Property types

Owners of detached houses saw the biggest rise in property prices in Nuneaton and Bedworth in October – they increased 2.1%, to £397,145 on average. Over the last year, prices rose by 6.4%.

Among other types of property:

How do property prices in Nuneaton and Bedworth compare?

Buyers paid 4% less than the average price in West Midlands (£253,000) in October for a property in Nuneaton and Bedworth. Across West Midlands, property prices are lower than those across the UK, where the average cost is £288,000.

The most expensive properties in West Midlands were in Stratford-on-Avon – £421,000 on average, and 1.7 times the price as in Nuneaton and Bedworth. Stratford-on-Avon properties cost 2.9 times the price as homes in Stoke (£145,000 average), at the other end of the scale.

The highest property prices across the UK were in Kensington and Chelsea, at £1.4 million.

Factfile

Average property price in October

• Nuneaton and Bedworth: £242,892
• West Midlands:£253,130
• UK: £287,782

Annual change to October

• Nuneaton and Bedworth: +4.2%
• West Midlands: -0.3%
• UK: -1.2%

Highest and lowest annual growth in West Midlands

• Stratford-on-Avon: +6.9%
• Herefordshire: -4.2%