House prices dropped slightly, by 0.1%, in Teignbridge in November, new figures show.

The drop contributes to the longer-term trend, which has seen property prices in the area suffer a 1.2% annual decline.

The average Teignbridge house price in November was £321,731, Land Registry figures show – a 0.1% decrease on October.

Over the month, the picture was different to that across the South West, where prices decreased 2.7%, and Teignbridge was above the 0.8% drop for the UK as a whole.

Over the last year, the average sale price of property in Teignbridge fell by £3,800 – putting the area eighth among the South West’s 26 local authorities with price data for annual growth.

The highest annual growth in the region was in Bath and North East Somerset, where property prices increased on average by 4.6%, to £461,000. At the other end of the scale, properties in Torridge lost 6.7% of their value, giving an average price of £302,000.

First steps on the property ladder

First-time buyers in Teignbridge spent an average of £260,000 on their property – £3,000 less than a year ago, but £59,200 more than in November 2018.

By comparison, former owner-occupiers paid £362,700 on average in November – 39.5% more than first-time buyers.

Property types

Owners of terraced houses saw the biggest fall in property prices in Teignbridge in November – they dropped 0.4% in price, to £250,400 on average. Over the last year, prices dropped by 1.5%.

Among other types of property:

  • Detached: down 0% monthly; down 1% annually; £487,703 average
  • Semi-detached: down 0.2% monthly; down 0.1% annually; £323,310 average
  • Flats: up 0.4% monthly; down 2.3% annually; £168,488 average

How do property prices in Teignbridge compare?

Buyers paid 0.8% more than the average price in the South West (£319,000) in November for a property in Teignbridge. Across the South West, property prices are higher than those across the UK, where the average cost is £285,000.

The most expensive properties in the South West were in Cotswold – £509,000 on average, and 1.6 times the price as in Teignbridge. Cotswold properties cost 2.4 times the price as homes in Plymouth (£213,000 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 November

  • Teignbridge: £321,731
  • The South West: £319,221
  • UK: £284,950

Annual change to November

  • Teignbridge: -1.2%
  • The South West: -4.1%
  • UK: -2.1%

Highest and lowest annual growth in the South West

  • Bath and North East Somerset: +4.6%
  • Torridge: -6.7%