House prices increased by 2.8 per cent – more than the average for West Midlands – in Wychavon in November, new figures show.

The boost contributes to the longer-term trend, which has seen property prices in the area achieve 22.8 per cent annual growth – the highest in West Midlands.

The average Wychavon house price in November was £346,878, Land Registry figures show – a 2.8 per cent increase on October.

Over the month, the picture was better than that across West Midlands, where prices increased 1.9 per cent, and Wychavon outperformed the 1.2 per cent rise for the UK as a whole.

Over the last year, the average sale price of property in Wychavon rose by £64,000 – putting the area top among West Midlands’s 30 local authorities with price data for annual growth.

At the other end of the scale, properties in North Warwickshire gained just 2.4 per cent in value, giving an average price of £225,000.

Winners and Losers

Owners of detached houses saw the biggest improvement in property prices in Wychavon in November – they increased 3.1%, to £514,552 on average. Over the last year, prices rose by 25.1 per cent.

Among other types of property:

• Semi-detached: up 2.8% monthly; up 22.9% annually; £301,367 average

• Terraced: up 2.3% monthly; up 19.3% annually; £228,732 average

• Flats: up 2.3% monthly; up 16.2% annually; £156,456 average

First steps on the property ladder

First-time buyers in Wychavon spent an average of £261,000 on their property – £48,000 more than a year ago, and £67,000 more than in November 2016.

By comparison, former owner-occupiers paid £405,000 on average in November – 55.1 per cent more than first-time buyers.

How do property prices in Wychavon compare?

Buyers paid 50.2 per cent more than the average price in West Midlands (£231,000) in November for a property in Wychavon. Across West Midlands, property prices are high compared to those across the UK, where the average cost £271,000.

The most expensive properties in West Midlands were in Stratford-on-Avon – £362,000 on average, and 4% more than in Wychavon. Stratford-on-Avon properties cost 2.8 times as much as homes in Stoke (£131,000 average), at the other end of the scale.

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

Factfile

Average property price in November

• Wychavon: £346,878

• West Midlands: £230,888

• UK: £270,708

Annual growth to November

• Wychavon: +22.8%

• West Midlands: +9.8%

• UK: +10%

Best and worst annual growth in West Midlands

• Wychavon: +22.8%

• North Warwickshire: +2.4%