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Figures released on Shropshire property prices

By Deborah Hardiman | Telford | Property | Published:

House prices increased slightly in Shropshire during the summer but dropped in Telford & Wrekin the latest figures show.

Land Registry figures show that the average house price in July was £216,639 contributing to the longer-term trend which has seen the county achieve 2.4 per cent annual growth.

Over the month from June despite a 0.6 per cent rise, the picture was less rosy than that across the West Midlands region where prices increased 1.2 per cent. However, Shropshire outperformed the 0.5 per cent national rise.

In the previous 12 months the average sale price of property in the county rose by £5,100 – putting the area 14th among 30 local authorities for growth.

Owners of terraced houses saw the biggest improvement in property prices in July which increased 0.8 per cent to £161,047 on average - arise of 2.5 per cent on the previous year.

Powys house prices also increased and more than the average for Wales.

The boost contributes to the longer-term trend, which has seen property prices in the area achieve 2.1 per cent annual growth.

The average Powys house price in July was £185,657 - a 2.1 per cent increase on June.

Across Wales prices increased 1 per cent but Powys outperformed the 0.5 per cent rise for the UK as a whole.

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Last year the average sale price of property there rose by £3,800 - putting the area 20th among Wales’s 22 local authorities for growth.

Owners of flats saw the biggest improvement in property prices which increased 2.9 per cent to £83,237 on average.

While figures in Telford and Wrekin prices dropped slightly, but the drop does not reverse the longer-term trend which has seen property prices rise by 0.2 per cent in annual growth.

The average Telford and Wrekin house price in July was £162,750. An 0.8 per cent decrease on the previous month.

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Owners of semi-detached houses fared worst as they dropped 0.9 per cent to £145,883 on average. But over the last year, prices rose by 0.4 per cent.

The borough underperformed compared to the 0.5 per cent rise nationally.

The average sale price of property in Telford and Wrekin rose by £270 last year putting the borough 24th among the region's 30 local authorities for annual growth.

First-time buyers in Shropshire spent an average of £174,900 on their property, £4,100 more than a year ago and £28,800 more than in July 2014. In Powys they spent an average of £ 163,400 on their property, £3,600 more than a year ago and £21,200 more than in July 2014. In Telford and Wrekin first time buyers spent an average of £133,310 on their property, £170 more than a year ago and £18,000 more than in July 2014.

The best annual growth in the region was Malvern Hills, Worcestershire, where properties increased on average by 8.3 per cent to £274,000.

Deborah Hardiman

By Deborah Hardiman
@Deborahh_Star

Senior reporter for the Shropshire Star based out of the head office in Ketley. Covering the Telford area.

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