Wigan house prices rise by 1.4 per cent

The rise contributes to the longer-term trend, which has seen property prices in the area grow by 13.1 per cent over the last year.

The average Wigan house price in June was £178,719, Land Registry figures show – a 1.4 per cent increase on May.

Across the North West prices increased by 2.1 per cent, but Wigan was still above the one per cent rise for the UK as a whole.

Over the last year, the average sale price of property in Wigan rose by £21,000 – putting the area eighth among the North West’s 39 local authorities with price data for annual growth.

The highest annual growth in the region was in St Helens, where property prices increased on average by 19.5 per cent, to £184,000.

In comparison, properties in Allerdale gained 1.1 per cent in value, giving an average price of £175,000.

An imbalance between supply and demand for properties has remained the primary reason behind climbing house prices across the UK throughout the pandemic.

But activity is starting to slow, with soaring inflation putting household budgets under pressure.

First-time buyers in Wigan spent an average of £158,000 – £18,000 more than a year ago and £44,000 more than in June 2017.

Former owner-occupiers paid £199,000 on average in June – 26 per cent more than first-time buyers.

Owners of terraced houses saw the biggest rise in property prices in Wigan in June – up 1.7 per cent to £136,851 on average. Over the last year, prices rose by 11.9 per cent.