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Worcester is a city that sits just below the UK average regarding property prices.
According to the HM Land Registry, the average cost of buy-to-let properties in Worcester is £266,072. In addition, property growth in the city was recorded at 2.40% year-on-year.
If you were to buy a detached property in Worcester, you would pay £443,912. Semi-detached homes would cost around £274,210, while terraced houses and flats would cost £221,982 and £145,447, respectively.
However, if we look at the average house price in the UK, it currently stands at £292,882, with a price growth of 0.80% year-on-year.
Rightmove states that most property sales in Worcester during the last 12 months were for semi-detached homes. The property website also shows that prices are 2% cheaper than a year ago.
This could be down to high inflation and substantial interest rates throughout 2023. However, mortgage rates and inflation decreased significantly in the latter months of the year.
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