The average sale price of property in the Cotswolds rose by £31,000 over the last year, with Stroud seeing the best annual growth in the region, where properties increased to £300,000
House prices increased in the Cotswolds in May, new figures show.
The boost contributes to the longer-term trend, which has seen property prices in the area achieve 8.3 per cent annual growth.
The average Cotswolds house price in May was £411,390, Land Registry figures show – a 4.1 per cent increase on April.
Over the month, the picture was better than that across the South West, where prices decreased 0.4 per cent, and the Cotswolds outperformed the 0.3 per cent rise for the UK as a whole.
Over the last year, the average sale price of property in the Cotswolds rose by £31,000 – putting the area second among the South West’s 29 local authorities for annual growth.
The best annual growth in the region was in Stroud, where properties increased on average by 10.3 per cent, to £300,000.
Owners of semi-detached houses saw the biggest improvement in property prices in the Cotswolds in May – they increased 4.4 per cent, to £374,725 on average. Over the last year, prices rose by 8.6 per cent.
Among other types of property were detached: up 3.9 per cent monthly; up 9.1 per cent annually; £615,738 average, and terraced: up 3.9 per cent monthly; up 7.7 per cent annually; £321,996 average.
First-time buyers in the Cotswolds spent an average of £311,000 on their property – £23,000 more than a year ago, and £73,000 more than in May 2015.
By comparison, former owner-occupiers paid £456,000 on average in May – 46.6 per cent more than first-time buyers.
Buyers paid 57.6 per cent more than the average price in the South West (£261,000) in May for a property in the Cotswolds. Across the South West, property prices are high compared to those across the UK, where the average cost £236,000.
The most expensive properties in the South West were in the Cotswolds – £411,000 on average.
The Cotswolds properties cost 2.3 times as much as homes in Plymouth (£175,000 average), at the other end of the scale.
The highest property prices across the UK were in Kensington and Chelsea, where the average May sale price of £1.4 million could buy 16 properties in Burnley (average £88,000).
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