Shropshire house prices higher than West Midlands average while Telford & Wrekin prices are lower
House prices increased more than average for the West Midlands in Shropshire in August, new figures show.
The boost contributes to the longer-term trend, which has seen property prices in the West Midlands achieve 4 per cent annual growth.
The average Shropshire house price in August was £220,951, Land Registry figures show – a 0.2 per cent increase on July.
Meanwhile the average Telford & Wrekin price in August was £172,685, with a more marked increase of 2.8 per cent on July.
The average price in the West Midlands was £204,886, lower than the UK average of £239,196.
Across the West Midlands, prices increased 0.1 per cent, and for the UK as a whole the rise was 0.7 per cent.
Over the last year, the average sale price of property in Shropshire rose by £8,500 – putting the area 12th among the West Midlands’s 30 local authorities for annual growth.
Telford & Wrekin is 13th for annual growth in the region with a rise of £6,600.
First-time buyers
First-time buyers in Shropshire spent an average of £178,000 on their property – £6,600 more than a year ago, and £24,100 more than in August 2015.
By comparison, former owner-occupiers paid £247,300 on average in August – 39.0 per cent more than first-time buyers.
In Telford & Wrekin, first-time buyers spent an average of £141,500 – £5,400 more than a year ago, and £20,700 more than in August 2015.
Meanwhile former owner-occupiers paid £195,000 on average in August – 37.8 per cent more than first-time buyers.
The most expensive properties in the West Midlands were in Stratford-on-Avon – £328,000 on average. At the other end of the scale was Stoke (£117,000 average).
The highest property prices across the UK were in Kensington and Chelsea, where the average August sale price of £1.4 million could buy 15 properties in Burnley (average £91,000).
Over the border in Wales, the average house price in Powys was £195,315 – an increase on July of 1.1 per cent. It put the county third in Wales' 22 local authorities for annual growth.
For the month, the picture was less good than that across Wales, where prices increased 2.1 per cent, but Powys outperformed the 0.7 per cent rise for the UK as a whole.
The average in Wales was £172,828.
