HOUSE prices increased slightly, by 0.2 per cent, in Dudley in May, new figures show.

The rise contributes to the longer-term trend, which has seen property prices in the area grow by 2.3 per cent over the last year.

The average Dudley house price in May was £230,895. Land Registry figures show a 0.2 per cent increase on April.

Over the month, the picture was different to that across West Midlands, where prices increased 2.3 per cent, and Dudley was lower than the 1.2 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 17th 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 9.7 per cent, to £335,000. At the other end of the scale, properties in Birmingham lost 2.4 per cent of their value, giving an average price of £225,000.

First steps on the property ladder

First-time buyers in Dudley spent an average of £203,000 on their property – £4,600 more than a year ago, and £48,800 more than in May 2019.

By comparison, former owner-occupiers paid £255,200 on average in May – 25.7 per cent more than first-time buyers.

Property types

Owners of detached houses saw the biggest rise in property prices in Dudley in May – they increased 0.3 per cent, to £346,840 on average. Over the last year, prices rose by 1.6 per cent.

Among other types of property:

Semi-detached: up 0.2 per cent monthly; up three per cent annually; £230,007 average

Terraced: up 0 per cent monthly; up 2.5 per cent annually; £191,573 average

Flats: up 0.1 per cent monthly; up 0.2 per cent annually; £125,952 average

How do property prices in Dudley compare?

Buyers paid 7.9 per cent less than the average price in West Midlands (£251,000) in May for a property in Dudley. Across West Midlands, property prices are lower than those across the UK, where the average cost is £285,000.

The most expensive properties in West Midlands were in Stratford-on-Avon – £370,000 on average, and 1.6 times the price as in Dudley. Stratford-on-Avon properties cost 2.6 times the price as homes in Stoke (£143,000 average), at the other end of the scale.

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