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.

Top Stories

More from the Shropshire Star

UK & International News