House prices dip in Shropshire more than West Midlands average
House prices dropped more than average for the West Midlands in Shropshire in December, new figures show.
But the drop does not reverse the longer-term trend, which has seen property prices in the area achieve 0.3 per cent annual growth.
The average Shropshire house price in December was £213,518, Land Registry figures show – a 2.9 per cent decrease on November.
Over the month, the picture was worse than that across the West Midlands, where prices decreased 0.4 per cent, and Shropshire underperformed compared to the 0.3 per cent rise for the UK as a whole.
Over the last year, the average sale price of property in Shropshire rose by £670 – putting the area 25th among the West Midlands’s 30 local authorities for annual growth.
The best annual growth in the region was in Cannock Chase, where properties increased on average by 8.5 per cent, to £183,000. At the other end of the scale, properties in Malvern Hills dropped 6.3 per cent in value, giving an average price of £253,000.
In Telford & Wrekin the prices increased slightly in December.
The boost continues the pattern which has seen property prices in the area achieve 3.1 per cent annual growth.
The average Telford and Wrekin house price in December was £170,372 according to the Land Registry figures – a 0.4 per cent increase on November.
In the last 12 months the average sale price of property in Telford and Wrekin rose by £5,100 – putting the area ninth in the West Midlands list.
First-time buyers in Shropshire spent an average of £172,090 on their property – £250 more than a year ago, and £23,830 more than in December 2014.
In Telford it was £139,400 on their property – £3,900 more than a year ago, and £19,900 more than in December 2014.
In Shropshire former owner-occupiers paid £238,910 on average in December – 38.8 per cent more than first-time buyers, while in Telford the figure was £192,700 on average – 38.3 per cent more than first-time buyers.
