House prices increased by 2.1 per cent in Shropshire in June, new figures show.

The rise contributes to the longer-term trend, which has seen property prices in the area grow by 11.5 per cent over the last year.

The average Shropshire house price in June was £274,964, Land Registry figures show – a 2.1 per cent increase on May.

Over the month, the picture was different to that across West Midlands, where prices remained static, and Shropshire was above the one per cent rise for the UK as a whole.

Over the last year, the average sale price of property in Shropshire rose by £28,000 – putting the area 12th among West Midlands’s 30 local authorities with price data for annual growth.

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The highest annual growth in the region was in North Warwickshire, where property prices increased on average by 17 per cent, to £262,000. At the other end of the scale, properties in Staffordshire Moorlands gained 3.4 per cent in value, giving an average price of £215,000.

An imbalance between supply and demand for properties has remained the primary reason behind climbing house prices across the UK throughout the pandemic.

But activity is starting to slow, with soaring inflation putting household budgets under pressure.

First steps on the property ladder

First-time buyers in Shropshire spent an average of £220,000 on their property – £22,000 more than a year ago, and £58,000 more than in June 2017.

By comparison, former owner-occupiers paid £309,000 on average in June – 40.2 per cent more than first-time buyers.

Property types

Owners of terraced houses saw the biggest rise in property prices in Shropshire in June – they increased 2.9 per cent, to £203,133 on average. Over the last year, prices rose by 10.6 per cent.

Among other types of property:

  • Detached: up 1.6 per cent monthly; up 12.5 per cent annually; £404,544 average
  • Semi-detached: up 2.4 per cent monthly; up 11.9 per cent annually; £252,770 average
  • Flats: up 2.4 per cent monthly; up 6.3 per cent annually; £138,364 average

How do property prices in Shropshire compare?

Buyers paid 11.7 per cent more than the average price in West Midlands (£246,000) in June for a property in Shropshire. Across West Midlands, property prices are higher than those across the UK, where the average cost £286,000.

The most expensive properties in West Midlands were in Stratford-on-Avon – £391,000 on average, and 1.4 times as much as more than in Shropshire. Stratford-on-Avon properties cost 2.8 times as much as homes in Stoke (£139,000 average), at the other end of the scale.

The highest property prices across the UK were in Kensington and Chelsea.