Wigan house prices dropping slightly
House prices in Wigan dropped slightly in June after many months of increases, new figures show.
Figures from the Office for National Statistics show the average Wigan house price in the year to June was £186,461 – a 0.4 per cent decrease on May.
The picture was different to that across the North West, where prices increased by 2.5 per cent .
The drop in Wigan does not reverse the longer-term trend in the area, which has seen property prices in the area grow by 4.3 per cent over the last year.
It means the area ranked 16th among the North West’s 35 local authorities for annual growth, with the average price in Wigan rising by £7,800 over the past year.
The highest annual growth in the North West was in Halton, where property prices increased on average by 9.8 per cent.
At the other end of the scale, properties in Lancaster lost 4.4 per cent of their value.
The average UK house price increased by 3.7 per cent in the 12 months to June.
ONS head of housing market indices Aimee North said: "House price annual inflation continues to pick up with the average UK house price now at around £269,000."
Jean Jameson, chief sales officer at Foxtons, said: "July brought a steady pace of activity, even as the summer holidays took some buyers and sellers out of the market.
"That said, well-priced homes, especially one and two-bed flats where supply is strongest, continued to attract interest.
"We've also seen an encouraging shift in sentiment following the recent base rate cut, which should support a pick-up in activity as we move towards the autumn."
Nathan Emerson, chief executive of Propertymark, said: "House price growth is widely regarded as being an important factor in boosting overall economic progress, so it is reassuring to see yet more headway as the housing market continues to see momentum.
"Despite the impact that Stamp Duty hikes and domestic and global factors have had on the economy, there are still convincing reasons to be optimistic about the property market in general.
"Total housing construction output has grown recently, and the UK Government and the devolved administrations are keen to meet their ambitious housing targets.