Latest average Shropshire housing prices revealed - and what it costs just to get on the ladder

The average Shropshire house price in January was £267,490, Land Registry figures show – a 1.2 per cent decrease on December.

Over the month, the picture was different to that across West Midlands, where prices increased 0.6 per cent, and Shropshire was lower than the 0.5 per cent rise for the UK as a whole.

Over the last year, the average sale price of property in Shropshire fell by £8,300 – putting the area 26th among West Midlands’s 30 local authorities with price data for annual growth.

The highest annual growth in the region was in Malvern Hills, where property prices increased on average by 5.7 per cent, to £353,000.

At the other end of the scale, properties in Wolverhampton lost 4.4 per cent of their value, giving an average price of £198,000.

First steps on the property ladder

First-time buyers in Shropshire spent an average of £215,600 on their property – £6,200 less than a year ago, but £45,000 more than in January 2019.

By comparison, former owner-occupiers paid £299,100 on average in January – 38.7 per cent more than first-time buyers.

Property types

Owners of flats saw the biggest fall in property prices in Shropshire in January – they dropped 1.2 per cent in price, to £137,859 on average. Over the last year, prices dropped by 3.9 per cent.

Among other types of property:

Detached: down 1.2 per cent monthly; down 3.2 per cent annually; £387,380 average

Semi-detached: down 1 per cent monthly; down 2.1 per cent annually; £248,757 average

Terraced: down 1.2 per cent monthly; down 3.6 per cent annually; £198,914 average

How do property prices in Shropshire compare?

Buyers paid 7.5 per cent more than the average price in West Midlands (£249,000) in January for a property in Shropshire.

Across West Midlands, property prices are lower than those across the UK, where the average cost is £282,000.

The most expensive properties in West Midlands were in Stratford-on-Avon – £361,000 on average, and 1.3 times the price as in Shropshire. Stratford-on-Avon properties cost 2.7 times the price as homes in Stoke (£135,000 average), at the other end of the scale.

The highest property prices across the UK were in Kensington and Chelsea, at £1.2 million.

Factfile

Average property price in January

Shropshire: £267,490

West Midlands: £248,758

UK: £281,913

Annual change to January

Shropshire: -3 per cent

West Midlands: +0.6 per cent

UK: -0.6 per cent

Malvern Hills: +5.7 per cent

Wolverhampton: -4.4 per cent