HOUSE prices in Warrington are rising at a rapid rate, new data shows.
According to figures from the Land Registry, house prices in Warrington have risen at twice the rate of properties throughout the North West.
🏠June 2022 UK House Price Index: The average #propertyprice is now £286,397 in the #UK🇬🇧. Monthly UK #HousePrices rose 1% between May and June 2022. pic.twitter.com/7usRCEKH4u
— HM Land Registry (@HMLandRegistry) August 17, 2022
To June, Warrington's houses increased by an average of 12 per cent - whereas properties in the North West as a whole averaged an increase of 6.2 per cent.
First-time buyers in Warrington will spend £58,000 more in 2022 than they would have at the same time in 2017 - marking an increase of 28 per cent.
The average property in Warrington cost £250,956 in June this year, which is the most up-to-date figure available.
This means that properties in the town have risen above the rate of inflation.
However, despite Warrington prices increasing by 12 per cent in one year, the prices of properties in St Helens have increased further - up 19.5 per cent in 12 months.
Despite this, Warrington's average price remains around £35,000 less than the UK average of £286,397.
Although there are sharp rises across many regions, the data suggests that prices are actually beginning to slow down in some areas - asking prices in London have decreased by 3.5 percent, according to RightMove, for example.
📈 House price growth in the UK slowed 'sharply' in June, according to data from the Office for National Statistics.
— TLDR News UK (@TLDRNewsUK) August 17, 2022
On an annual rate, growth fell from 12.8% to 7.8%.
The price of the average UK home increased by £3,000 in June and now stands at £286,000.
The properties in Warrington that saw the largest increases recently were terraced houses, increasing by 3.6 per cent to £196,158 in June.
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