Stratford-on-Avon house prices leapt 5.3% in October

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

House prices leapt by 5.3% in Stratford-on-Avon in October, new figures show.

The significant rise contributes to the longer-term trend, which has seen property prices in the area grow by 6.9% over the last year – the highest in West Midlands.

The average Stratford-on-Avon house price in October was £420,960, Land Registry figures show – a 5.3% increase on September.

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

Over the last year, the average sale price of property in Stratford-on-Avon rose by £27,000 – putting the area top among West Midlands’s 30 local authorities with price data for annual growth.

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 Stratford-on-Avon spent an average of £326,000 on their property – £21,000 more than a year ago, and £72,000 more than in October 2018.

By comparison, former owner-occupiers paid £474,000 on average in October – 45.4% more than first-time buyers.

Property types

Owners of semi-detached houses saw the biggest rise in property prices in Stratford-on-Avon in October – they increased 5.7%, to £399,015 on average. Over the last year, prices rose by 8.1%.

Among other types of property:

Detached: up 5.5% monthly; up 8.1% annually; £668,222 average
Terraced: up 5% monthly; up 5.2% annually; £313,975 average
Flats: up 4.6% monthly; up 3.7% annually; £197,197 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 October. The average price paid would buy 2.9 homes in Stoke (£145,000), at the other end of the scale.

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

Across West Midlands, property prices are lower than those across the UK, where the average cost is £288,000.

Factfile

Average property price in October

Stratford-on-Avon: £420,960
West Midlands:£253,130
UK: £287,782

Annual change to October

Stratford-on-Avon: +6.9%
West Midlands: -0.3%
UK: -1.2%

Highest and lowest annual growth in West Midlands

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