House prices increased by 2.6 per cent in the Cumberland Council area in July, new figures show.

The rise contributes to the longer-term trend, which has seen property prices in the area grow by 7.2 per cent over the last year.

The average Cumberland Council area house price in July was £175,771. Land Registry figures show a 2.6 per cent increase on June.

Over the month, the picture was different to that across the North West, where prices remained static, and Cumberland was above the 0.6 per cent rise for the UK as a whole.

Over the last year, the average sale price of property in the Cumberland Council area rose by £12,000.

First-time buyers in the Cumberland Council area spent an average of £150,000 on their property – £10,000 more than a year ago, and £35,000 more than in July 2019.

By comparison, former owner-occupiers paid £201,000 on average in July – 33.8 per cent more than first-time buyers.

Owners of detached houses saw the biggest rise in property prices in the Cumberland Council area in July – they increased 2.9 per cent, to £278,258 on average. Over the last year, prices rose by 7.5 per cent.

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Among other types of property:

  • Semi-detached: up 2.5 per cent monthly; up 8.1 per cent annually; £175,415 average
  • Terraced: up 2.4 per cent monthly; up 6.7 per cent annually; £140,785 average
  • Flats: up 2.2 per cent monthly; up 4.6 per cent annually; £103,157 average

Buyers paid 20.1 per cent less than the average price in the North West (£220,000) in July for a property in the Cumberland Council area.

Across the North West, property prices are low compared to those across the UK, where the average cost is £290,000.