House prices increased more than average for the North West in Allerdale in July, new figures show.
The boost contributes to the longer-term trend, which has seen property prices in the area achieve 4.2 per cent annual growth.
The average Allerdale house price in July was £159,870, Land Registry figures show – a 2.8 per cent increase on June.
Over the month, the picture was better than that across the North West, where prices increased one per cent, and Allerdale outperformed the 0.5 per cent rise for the UK as a whole.
Over the last year, the average sale price of property in Allerdale rose by £6,400 – putting the area 12th among the North West’s 39 local authorities for annual growth.
The best annual growth in the region was in Burnley, where properties increased on average by 8.4 per cent, to £91,000.
At the other end of the scale, properties in Eden dropped 4.1 per cent in value, giving an average price of £197,000.
Winners and losers
Owners of flats saw the biggest improvement in property prices in Allerdale in July – they increased 3.1 per cent, to £101,903 on average.
Over the last year, prices rose by 1.3 per cent.
Among other types of property:
Detached: up 2.7 per cent monthly; up 4.6 per cent annually; £237,889 average
Semi-detached: up three per cent monthly; up 4.7 per cent annually; £156,980 average
Terraced: up 2.7 per cent monthly; up 3.8 per cent annually; £129,312 average
First steps on the property ladder
First-time buyers in Allerdale spent an average of £ 138,300 on their property – £5,300 more than a year ago, and £20,800 more than in July 2015.
By comparison, former owner-occupiers paid £ 178,200 on average in July – 28.8 per cent more than first-time buyers.
How do property prices in Allerdale compare?
Buyers paid 7.0 per cent less than the average price in the North West (£172,000) in July for a property in Allerdale.
Across the North West, property prices are low compared to those across the UK, where the average cost £238,000.
The most expensive properties in the North West were in Trafford – £303,000 on average, and 1.9 times as much as in Allerdale.
Trafford properties cost 3.3 times as much as homes in Burnley (£91,000 average), at the other end of the scale.
The highest property prices across the UK were in Kensington and Chelsea, with the average July sale price was £1.2 million.
Factfile
Average property price in July
Allerdale: £159,870
The North West: £171,956
UK: £237,963
Annual growth to July
Allerdale: +4.2 per cent
The North West: +3.5 per cent
UK: +2.3 per cent
Best and worst annual growth in the North West
Burnley: +8.4 per cent
Eden: -4.1 per cent
