Warwick house prices increased slightly in September

By Sonja Tutty, Data Reporter
Published 15th Nov 2023, 10:53 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 increased slightly, by 0.3%, in Warwick in September, new figures show.

House prices increased slightly, by 0.3%, in Warwick in September, new figures show.

The rise contributes to the longer-term trend, which has seen property prices in the area grow by 4.6% over the last year.

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The average Warwick house price in September was £377,186, Land Registry figures show – a 0.3% increase on August.

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    Over the month, the picture was different to that across West Midlands, where prices decreased 0.2%, and Warwick was above the 0.5% drop for the UK as a whole.

    Over the last year, the average sale price of property in Warwick rose by £17,000 – 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 Cannock Chase, where property prices increased on average by 8.1%, to £243,000. At the other end of the scale, properties in Staffordshire Moorlands lost 6.9% of their value, giving an average price of £221,000.

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    First steps on the property ladder

    First-time buyers in Warwick spent an average of £305,000 on their property – £13,000 more than a year ago, and £50,000 more than in September 2018.

    By comparison, former owner-occupiers paid £443,000 on average in September – 45.5% more than first-time buyers.

    Property types

    Owners of detached houses saw the biggest rise in property prices in Warwick in September – they increased 0.5%, to £684,707 on average. Over the last year, prices rose by 6.7%.

    Among other types of property:

    Semi-detached:
    Terraced:
    Flats:

    How do property prices in Warwick compare?

    Buyers paid more for properties in Warwick than anywhere else in West Midlands in September. The average price paid would buy 2.7 homes in Stoke (£141,000), 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 £291,000.

    Factfile

    Average property price in September

    • Warwick: £377,186
    • West Midlands:£253,624
    • UK: £291,385

    Annual change to September

    • Warwick: +4.6%
    • West Midlands: +0.5%
    • UK: -0.1%

    Highest and lowest annual growth in West Midlands

    • Cannock Chase: +8.1%
    • Staffordshire Moorlands: -6.9%