City house prices fall for the first time in six years
HOUSE prices in Manchester are falling for the first time in six years.
The city saw prices drop by 0.2 per cent in the year to August.
The average house price is now £325 less than it was a year ago, according to the figures from the Land Registry, falling from £179,831 in August 2018 to £179,506 in August this year.
It is the first year-on-year drop since a 1.4pc fall was recorded in August 2013.
Everywhere else in Greater Manchester is still seeing prices rise.
Bolton saw a 2.3pc rise in prices in the year to August, meaning homes are now worth an average of £139,294, and Tameside saw a rise of 3.1pc to £150,418,
Wigan saw a rise of 3.2pc to £137,485 and Stockport saw a rise of 3.2pc to £230,347.
House prices rose by 4.1pc in Oldham to an average of £137,471, by 5.1pc in Trafford to an average of £293,446, and by 5.8pc in Bury to an average of £180,956.
Prices were also up by 5.9pc in Salford to an average of £166,216 and by 6.6pc in Rochdale to an average of £141,975.
Average house prices in the UK increased by 1.3pc in the year to August, according to the figures published by the Office for National Statistics.
This was up from 0.8pc in July but less than half the 2.7pc annual growth seen this time last year.
Since June 2016, there has been a general slowdown in UK house price growth, mainly in the south and east of England.
The average UK house price was £235,000 in August.
House price growth is rising fastest in Wales, up by 4.5pc in the year to August, up from 3.8pc in July 2019, with the average house price at £168,000.
The north east was the English region with the highest annual house price growth, with prices increasing by 3.3pc in the year to August. This was followed by the north west, increasing by 3.1pc.
The lowest annual growth was in London, where prices fell by 1.4pc over the year.