House prices increased by 1.9 per cent in Bury in February, new figures show.
The rise contributes to the longer-term trend, which has seen property prices in the area grow by 2.5 per cent over the last year.
The average Bury house price in February was £240,425, Land Registry figures show – a 1.9 per cent increase on January.
Over the month, the picture was different to that across the North West, where prices decreased 0.2 per cent, and Bury was above the 0.4 per cent rise for the UK as a whole.
Over the last year, the average sale price of property in Bury rose by £5,800 – putting the area 12th among the North West’s 35 local authorities with price data for annual growth.
The highest annual growth in the region was in Rossendale, where property prices increased on average by 11.7 per cent, to £213,000.
At the other end of the scale, properties in Burnley lost 9.3 per cent of their value, giving an average price of £103,000.
First steps on the property ladder
First time buyers in Bury spent an average of £201,600 on their property – £4,500 more than a year ago, and £52,400 more than in February 2019.
By comparison, former owner-occupiers paid £266,000 on average in February – 31.9 per cent more than first-time buyers.
Property types
Owners of semi-detached houses saw the biggest rise in property prices in Bury in February – they increased 1.9 per cent, to £262,722 on average. Over the last year, prices rose by 3.2 per cent.
Among other types of property:
Detached: up 1.8 per cent monthly; up 2.9 per cent annually; £400,505 average
Terraced: up 1.9 per cent monthly; up 1.9 per cent annually; £187,469 average
Flats: up 1.9 per cent monthly; up 1.3 per cent annually; £131,084 average
How do property prices in Bury compare?
Buyers paid 12.4 per cent more than the average price in the North West (£214,000) in February for a property in Bury.
Across the North West, property prices are low compared to those across the UK, where the average cost is £281,000.
The most expensive properties in the North West were in Trafford – £354,000 on average, and 1.5 times the price as in Bury. Trafford properties cost 3.4 times the price as homes in Burnley (£103,000 average), at the other end of the scale.
The highest property prices across the UK were in Kensington and Chelsea.
Average property price in February
Bury: £240,425
The North West: £213,890
UK: £280,660
Annual change to February
Bury: +2.5 per cent
The North West: +1.4 per cent
UK: -0.2 per cent
Highest and lowest annual growth in the North West
Rossendale: +11.7 per cent
Burnley: -9.3 per cent
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