HOUSE prices increased slightly, by 0.4 per cent, in Dudley in January, new figures show.

The rise contributes to the longer-term trend, which has seen property prices in the area grow by 2.4 per cent over the last year.

The average Dudley house price in January was £239,344, Land Registry figures show – a 0.4 per cent increase on December.

Over the month, the picture was similar to that across West Midlands, where prices increased 0.6 per cent, and Dudley was lower than the 0.5 per cent rise for the UK as a whole.

Over the last year, the average sale price of property in Dudley rose by £5,600 – putting the area fifth among West Midlands’s 30 local authorities with price data for annual growth.

The highest annual growth in the region was in Malvern Hills, where property prices increased on average by 5.7 per cent, to £353,000. At the other end of the scale, properties in Wolverhampton lost 4.4 per cent of their value, giving an average price of £198,000.

First steps on the property ladder First-time buyers in Dudley spent an average of £210,300 on their property – £4,500 more than a year ago, and £57,500 more than in January 2019.

By comparison, former owner-occupiers paid £264,700 on average in January – 25.9 per cent more than first-time buyers.

Owners of detached houses saw the biggest rise in property prices in Dudley in January – they increased 0.6 per cent, to £362,838 on average. Over the last year, prices rose by three per cent.

Among other types of property:

Semi-detached: up 0.4 per cent monthly; up 2.9 per cent annually; £237,923 average

Terraced: up 0.3 per cent monthly; up 1.6 per cent annually; £197,750 average

Flats: up 0.2 per cent monthly; up 1 per cent annually; £130,838 average

Buyers paid 3.8 per cent less than the average price in West Midlands (£249,000) in January for a property in Dudley. Across West Midlands, property prices are lower than those across the UK, where the average cost is £282,000.

The most expensive properties in West Midlands were in Stratford-on-Avon – £361,000 on average, and 1.5 times the price as in Dudley. Stratford-on-Avon properties cost 2.7 times the price as homes in Stoke (£135,000 average), at the other end of the scale.

The highest property prices across the UK were in Kensington and Chelsea, at £1.2 million.