HOUSE prices increased slightly, by 0.5%, in Dudley in February, new figures show.

The rise contributes to the longer-term trend, which has seen property prices in the area grow by 2.2 per cent over the last year.

The average Dudley house price in February was £239,455, Land Registry figures show – a 0.5 per cent increase on January.

Over the month, the picture was different to that across West Midlands, where prices decreased 1.2 per cent, and Dudley was above the 0.4 per cent rise for the UK as a whole.

Over the last year, the average sale price of property in Dudley rose by £5,200 – putting the area fourth among West Midlands’s 30 local authorities with price data for annual growth.

The highest annual growth in the region was in Rugby, where property prices increased on average by 4.1 per cent, to £303,000. At the other end of the scale, properties in Newcastle-under-Lyme lost 6.9 per cent of their value, giving an average price of £186,000.

First steps on the property ladder

First-time buyers in Dudley spent an average of £210,400 on their property – £4,200 more than a year ago, and £57,300 more than in February 2019.

By comparison, former owner-occupiers paid £264,800 on average in February – 25.9 per cent more than first-time buyers.

First-time buyers in Dudley spent an average of £210,400 on their property – £4,200 more than a year ago, and £57,300 more than in February 2019.

By comparison, former owner-occupiers paid £264,800 on average in February – 25.9% more than first-time buyers.

Property types

Owners of detached houses saw the biggest rise in property prices in Dudley in February – they increased 0.6 per cent, to £362,965 on average. Over the last year, prices rose by 2.9 per cent.

Among other types of property:

Semi-detached: up 0.5 per cent monthly; up 2.8 per cent annually; £238,313 average

Terraced: up 0.4 per cent monthly; up 1.5 per cent annually; £197,938 average

Flats: up 0.2 per cent monthly; up 0.1 per cent annually; £130,262 average

How do property prices in Dudley compare?

Buyers paid 1.2 per cent less than the average price in West Midlands (£242,000) in February for a property in Dudley. Across West Midlands, property prices are lower than those across the UK, where the average cost is £281,000.

The most expensive properties in West Midlands were in Stratford-on-Avon – £360,000 on average, and 1.5 times the price as in Dudley. Stratford-on-Avon properties cost 2.5 times the price as homes in Stoke (£142,000 average), at the other end of the scale.

The highest property prices across the UK were in Kensington and Chelsea.