Property prices in Staffordshire defy housing sector slump
The average price of a home in the city grew 0.5 per cent, to £91,766, in September, according to the Land Registry.
The rise means the average house price has increased by 0.5 per cent in the year to date – in stark contrast to the average fall of eight per cent across England and Wales over that period.
Values of properties in Staffordshire fell by an average of 0.9 per cent over the month, taking the overall decrease in the first three quarters of the year to 2.6 per cent.
Homes in Cheshire have been slightly more affected by property sector gloom, with a 0.9 per cent price fall in September, pushing the annual change to 4.4 per cent.
Experts say the Land Registry figures can cause confusion because they include prices for re-mortgaged properties.
Philip Cope, partner of Cheadle estate agent Donald Cope & Company, said the prices of the properties he sells had fallen by about 10 per cent compared with last year.
He said: "The housing market reflects confidence. If there is a lack of confidence and people are worried about their jobs and cash flow, the last thing they will think about is property."
Property prices dropped by a further 2.2 per cent across England and Wales in September, according to the Land Registry.
The average home now costs £168,814, compared to £148,888 in Staffordshire and £167,118 in Cheshire.
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