House prices increased by 2.9 per cent – more than the average for the North West – in South Lakeland in April, new figures show.

The average South Lakeland house price in April was £292,574, Land Registry figures show – a 2.9 per cent increase on March.

Over the month, the picture was different to that across the North West, where prices increased by 2 per cent , and South Lakeland was above the 1.1 per cent rise for the UK as a whole.

Over the last year, the average sale price of property in South Lakeland rose by £22,000 – putting the area 33rd among the North West’s 39 local authorities with price data for annual growth.

First steps on the property ladder

First-time buyers in South Lakeland spent an average of £243,000 on their property – £17,000 more than a year ago, and £54,000 more than in April 2017.

By comparison, former owner-occupiers paid £324,000 on average in April – 33.5 per cent more than first-time buyers.

Property types

Owners of detached houses saw the biggest rise in property prices in South Lakeland in April – they increased 3 per cent, to £458,465 on average. Over the last year, prices rose by 10.7 per cent.

Among other types of property:

Semi-detached: up 2.8 per cent monthly; up 9.1 per cent annually; £299,729 average

Terraced: up 2.9 per cent monthly; up 7.1 per cent annually; £244,730 average

Flats: up 2.5 per cent monthly; up 4 per cent annually; £170,213 average

How do property prices in South Lakeland compare?

Buyers paid 40.1 per cent more than the average price in the North West (£209,000) in April for a property in South Lakeland. Across the North West, property prices are high compared to those across the UK, where the average cost £281,000.

The most expensive properties in the North West were in Trafford – £347,000 on average, and 1.2 times as much as more than in South Lakeland. Trafford properties cost 2.9 times as much as homes in Burnley (£119,000 average), at the other end of the scale.

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

Factfile

Average property price in April

South Lakeland: £292,574

The North West: £208,867

UK: £281,161

Annual growth to April

South Lakeland: +8.2 per cent

The North West: +13.3 per cent

UK: +12.4 per cent

Highest and lowest annual growth in the North West

Burnley: +18.6 per cent

Pendle: +2.7 per cent