House prices in Shropshire buck trend and keep rising
House prices in Shropshire and Mid Wales continued to grow during September, bucking the trend for declining prices across the wider West Midlands.
In Shropshire, the average property sold for £161,423 – a 0.5 per cent rise on August, and a 5.1 per cent increase on the same month in 2013.
Telford & Wrekin enjoyed a one per cent monthly rise, to leave average prices 3.5 per cent ahead of the same time last year at £127,471.
Powys also saw a one per cent monthly rise, with properties selling for an average of £143,695 – 2.7 per cent more than the same time last year.
The figures compare favourably to the wider region, as the West Midlands suffered a 0.8 per cent monthly decline in prices in September, with the average property moving for £135,071, 4.3 per cent more than last year.
While Shropshire's monthly improvement remains static – it also saw prices increase by 0.5 per cent in August – Telford has returned to growth after a month of unchanged prices in August. Powys's house prices are also back up after prices fell by 0.7 per cent in August.
Mike Nettleton, director of estate agents Nock Deighton, which has branches in Ironbridge, Telford, Ludlow and Bridgnorth, said they were seeing similar trends.
"The market is very good in Shropshire and is nicely balanced across the county," he said.
"House prices are growing steadily which is great to see as that reflects on the interest in the county. Telford's one per cent monthly rise and 3.5 per cent increase on last year's figures could be a reflection on the investment in the area – particularly the Southwater development.
"Investment such as this shows confidence and house buyers see that and it gives them further confidence in the area in which they are buying."
Nationally, the average house price fell by 0.2 per cent last month, to leave it 7.2 per cent up on the same period last year at £177,299. It had previously peaked at £181,324 in November 2007.
The average price for a detached property in Shropshire rose by 0.5 per cent to £245,996. A semi-detached is now worth £140,505, a terrace £121,227 and a flat £96,646.
Detached, semi-detached, terraced and apartment properties in Telford and Wrekin sold for £201,828, £100,773, £79,994 and £49,490 respectively during September.
And in Powys, those figures were £197,419, £116,627, £93,554 and £72,025.
