House price rises in Eden continue to outperform the UK, latest figures show.
Figures from the Land Registry showed that house prices increased in February.
An average Eden house price in February was £219,069 — a 0.3 per cent increase on January.
The boost has contributed to the longer-term trend, which has seen property prices in the area achieve 15.8 per cent annual growth.
The North West’s annual growth was 11.9 per cent and the UK 8.6 per cent.
Over the last year, the average sale price of property in Eden rose by £30,000 — putting the area sixth among the North West’s 43 local authorities for annual growth.
Owners of flats saw the biggest improvement in property prices in Eden in February.
They increased 0.9 per cent, to £124,338 on average. Over the last year, prices rose by 12.4 per cent.
Among other types of property:
- Detached: up 0.3 per cent monthly; up 16.3 per cent annually — £311,910 average;
- Semi-detached: up 0.2 per cent monthly; up 15.5 per cent annually — £206,533 average;
- Terraced: up 0.3per cent monthly; up 16.2 per cent annually — £172,765 average.
Meanwhile, first-time buyers in Eden spent an average of £180,000 for their property — £24,000 more than a year ago, and £20,000 more than in January 2016.
Former owner-occupiers paid £248,000 on average in February — 38.0 per cent more than first-time buyers. Buyers in Eden paid 18.8 per cent more than the average price in the North West — £184,000 — in February for a property.
In neighbouring Allerdale, the average house price in February was £165,034, Land Registry figures show — a 2.6 per cent decrease on January.
However, it did not reverse the longer-term trend as it saw property prices in the area achieve 8.6 per cent annual growth.
First-time buyers in Allerdale spent an average of £142,000 on their property — £11,000 more than a year ago, and £19,000 more than in January, 2016.
Former owner-occupiers paid £184,000 on average in February — 29.5 per cent more than first-time buyers.
Over the last year, the average sale price of property in Allerdale rose by £13,000 — putting the area 28th among the North West’s 43 local authorities for annual growth.
Buyers paid 10.5 per cent less than the average price in the North West.
Owners of detached houses fared worst in Allerdale in February — they dropped 2.7 per cent in price, to £246,245 on average. But over the last year, prices rose by 9.2 per cent.
Terraced homes were down 2.6 per cent monthly; up 8.8 per cent annually; £133,982 average and flats were down 2.5 per cent monthly; up 5.2 per cent annually; £103,532 average.
The most expensive properties in the North West were in Trafford — £328,000 on average and 1.5 times as much as in Eden and twice as much as in Allerdale.
