WORCESTER house prices have seen another rise, new figures show.
The latest data from the Land Registry reveals that in September average house prices in Worcester reached £260,605.
That was up slightly by 0.5 per cent, and contributed to the longer-term trend which has seen property prices in the area grow by 12.3 per cent over the last year.
The figures from the government body also show Worcester was above the UK as a whole, where prices did not change.
Over the last year, the average sale price of property in Worcester rose by £29,000 – putting the area 22nd among West Midlands’s 30 local authorities with price data for annual growth.
Buyers paid 2.7 per cent more than the average price in West Midlands, £254,000, in September for a property in Worcester.
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Across West Midlands, property prices are higher than those across the UK, where the average cost is £295,000.
Breaking it down for specific types of housing, all prices saw an increase:
- Detached - up 0.4 per cent monthly, up 13.1 per cent annually, to £429,980 average
- Terraced - up 0.4 per cent monthly, up 12.8 per cent annually, to £218,426 average
- Flats - no change monthly, up 7.5 per cent annually to £142,669 average
First-time buyers in Worcester spent an average of £221,000 on their property – £24,000 more than a year ago, and £42,000 more than in September 2017.
By comparison, former owner-occupiers paid £303,000 on average in September – 36.7 per cent more than first-time buyers.
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