Nuneaton and Bedworth house prices dropped in May

By Sonja Tutty, Data Reporter
Published 19th Jul 2023, 11:51 BST
General view of estate agents signs outside a block of flats in Basingstoke, Hampshire.General view of estate agents signs outside a block of flats in Basingstoke, Hampshire.
General view of estate agents signs outside a block of flats in Basingstoke, Hampshire.
House prices dropped by 1.7% in Nuneaton and Bedworth in May, new figures show.

House prices dropped by 1.7% in Nuneaton and Bedworth in May, new figures show.

But the drop does not reverse the longer-term trend, which has seen property prices in the area grow by 2.7% over the last year.

Hide Ad
Hide Ad

The average Nuneaton and Bedworth house price in May was £229,352, Land Registry figures show – a 1.7% decrease on April.

Most Popular

    Over the month, the picture was different to that across West Midlands, where prices increased 0.5%, and Nuneaton and Bedworth was lower than the UK as a whole, where prices did not change.

    Over the last year, the average sale price of property in Nuneaton and Bedworth rose by £5,900 – putting the area 14th among West Midlands’s 30 local authorities with price data for annual growth.

    The highest annual growth in the region was in Telford and Wrekin, where property prices increased on average by 9.1%, to £227,000. At the other end of the scale, properties in North Warwickshire lost 4.7% of their value, giving an average price of £242,000.

    Hide Ad
    Hide Ad

    First steps on the property ladder

    First-time buyers in Nuneaton and Bedworth spent an average of £199,800 on their property – £4,700 more than a year ago, and £48,900 more than in May 2018.

    By comparison, former owner-occupiers paid £259,600 on average in May – 29.9% more than first-time buyers.

    Property types

    Owners of semi-detached houses saw the biggest fall in property prices in Nuneaton and Bedworth in May – they dropped 1.8% in price, to £224,295 on average. But over the last year, prices rose by 2.4%.

    Among other types of property:

    • Detached: down 1.7% monthly; up 4.4% annually; £375,470 average
    • Terraced: down 1.6% monthly; up 1.7% annually; £176,657 average
    • Flats: down 1.6% monthly; up 0.7% annually; £112,704 average

    How do property prices in Nuneaton and Bedworth compare?

    Buyers paid 7.6% less than the average price in West Midlands (£248,000) in May for a property in Nuneaton and Bedworth. Across West Midlands, property prices are lower than those across the UK, where the average cost is £286,000.

    Hide Ad
    Hide Ad

    The most expensive properties in West Midlands were in Stratford-on-Avon – £383,000 on average, and 1.7 times the price as in Nuneaton and Bedworth. Stratford-on-Avon properties cost 2.7 times the price as homes in Stoke (£144,000 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 May

    • Nuneaton and Bedworth: £229,352
    • West Midlands:£248,166
    • UK: £285,861

    Annual growth to May

    • Nuneaton and Bedworth: +2.7%
    • West Midlands: +2.2%
    • UK: +1.9%

    Highest and lowest annual growth in West Midlands

    • Telford and Wrekin: +9.1%
    • North Warwickshire: -4.7%