House prices increased by 2.1 per cent in Copeland in September, which is more than the average for the North West new figures show.

The rise contributes to the longer-term trend, which has seen property prices in the area grow by 11.9 per cent over the last year.

The average Copeland house price in September was £153,937, Land Registry figures show – a 2.1 per cent increase on August. Over the month, the picture was different to that across the North West, where prices increased 0.6 per cent, and Copeland was above the UK as a whole, where prices did not change.

Over the last year, the average sale price of property in Copeland rose by £16,000 putting the area 24th among the North West’s 39 local authorities with price data for annual growth.

An imbalance between supply and demand for properties saw house prices climb across the UK throughout the pandemic. But typical property values stalled across the UK between August and September, which caused annual growth to slow.

Andy Sommerville, director at property data provider Search Acumen said the latest data is further evidence of "a turning tide for house prices".

Nicky Stevenson, managing director at estate agent group Fine and Country said:

“Annual house price growth slowed in September against a backdrop of rising interest rates and shrinking disposable incomes."

“All eyes will now turn to Chancellor Jeremy Hunt’s autumn statement, which is expected to include both tax rises and spending cuts," he added.

First-time buyers in Copeland spent an average of £132,000 on their property – £14,000 more than a year ago, and £24,000 more than in September 2017.

By comparison, former owner-occupiers paid £177,000 on average in September – 34.2 per cent more than first-time buyers.

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