House prices increased in the Cotswolds in August, new figures show.
The boost contributes to the longer-term trend, which has seen property prices in the area achieve 3.6 per cent annual growth.
The average Cotswold house price in August was £412,446, Land Registry figures show – a 2.4 per cent increase on July.
Over the month, the picture was better than that across the South West, where prices remained static, and the Cotswolds outperformed the 0.7 per cent rise for the UK as a whole.
Over the last year, the average sale price of property in the Cotswolds rose by £14,000 – putting the area 11th among the South West’s 36 local authorities for annual growth.
Owners of detached houses saw the biggest improvement in property prices in the Cotswolds in August – they increased 2.6 per cent, to £614,362 on average. Over the last year, prices rose by 3.7 per cent.
Among other types of property:
Semi-detached: up 2.4 per cent monthly; up 4.6 per cent annually; £377,324 average
Terraced: up 2.5 per cent monthly; up 3.7 per cent annually; £325,188 average
Flats: up 1.7 per cent monthly; up 1.1 per cent annually; £194,320 average
First-time buyers in the Cotswolds spent an average of £311,000 on their property – £10,000 more than a year ago, and £65,000 more than in August 2015.
By comparison, former owner-occupiers paid £458,000 on average in August – 47.4 per cent more than first-time buyers.
Buyers paid more for properties in the Cotswolds than anywhere else in the South West in August. The average price paid would buy 2.2 homes in Plymouth (£184,000), at the other end of the scale.
The highest property prices across the UK were in Kensington and Chelsea, where the average August sale price of £1.4 million could buy 15 properties in Burnley (average £91,000).
Across the South West, property prices are high compared to those across the UK, where the average cost £239,000.
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