House prices increased slightly, by 0.9%, across the Cumberland Council area in June, new figures show.
The rise contributes to the longer-term trend, which has seen property prices in the area grow by 3.1% over the last year.
The average Cumberland house price in June was £165,592, Land Registry figures show – a 0.9% increase on May.
Over the month, the picture was similar to that across the North West, where prices increased 1.2%, but Cumberland was above the 0.7% rise for the UK as a whole.
Over the last year, the average sale price of property in Cumberland rose by £5,000 – putting the area 23rd among the North West’s 35 local authorities with price data for annual growth.
The highest annual growth in the region was in Rossendale, where property prices increased on average by 9.2%, to £201,000. At the other end of the scale, properties in Hyndburn lost 3.7% of their value, giving an average price of £118,000.
First-time buyers in Cumberland spent an average of £140,700 on their property – £3,800 more than a year ago, and £24,300 more than in June 2018.
By comparison, former owner-occupiers paid £190,400 on average in June – 35.3% more than first-time buyers.
Owners of terraced houses saw the biggest rise in property prices in Cumberland in June – they increased 1.1%, to £130,117 on average. Over the last year, prices rose by 1.9%.
Among other types of property: Detached: up 0.5% monthly; up 4.2% annually; £269,463 average
Semi-detached: up 0.9% monthly; up 3.5% annually; £165,245 average
Flats: up 1.1% monthly; up 2.4% annually; £93,418 average
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Buyers paid 23.2% less than the average price in the North West (£216,000) in June for a property in Cumberland.
Across the North West, property prices are low compared to those across the UK, where the average cost is £288,000.
The most expensive properties in the North West were in Trafford – £362,000 on average, and 2.2 times the price as in Cumberland. Trafford properties cost 3.1 times the price as homes in Burnley (£117,000 average), at the other end of the scale.
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