The average house price in Stoke-on-Trent is the lowest in the country according to figures released by the Land Registry at the end of May 2011.
According to the latest figures the average price of a house in the city is £73,733.
This figure shows average price has reduced by 3.8% over the last month and contributes to an annual reduction of 4.7% to date.
Nationally the average house price is £163,083, a rise of 0.8% over the month but a year to date reduction of 1.3%.
Kingston upon Hull used to have the cheapest average house price but a monthly rise of 0.9%, which equates to an average price of £73,825, has lifted them above Stoke-on-Trent.
Wales has the lowest average house prices.
Merthyr Tydfil has an average of just £69,173 and in Blaenau Gwent it is £72,872.
For Stoke-on-Trent’s neighbours, house sellers have better news.
Staffordshire’s average house price is £134,460 whilst in Shropshire it is £164,347.
House sales are in decline across the country. Sales between November 2010 and February 2011 fell to an average of 46,818 units sold per month. The same period last year saw the number of units sold at 54,479.
There was good news for people who owned properties worth over £1million.
There was a rise of 14% for properties sold over the million pound bracket in England and Wales.
Those looking to sell properties at the lower end of the market were also fairing well with a rise of 22% in sales in units worth below £50,000.
The worse effected is the “Ëœsqueezed middle ground’, properties worth between £50,000 and £200,000 all witnessed reductions in the number of units sold of around 5-6%.
Sales of properties worth between £200,000 and £250,000 were the worse effected with a massive reduction of 18% in the number of units sold.
Stoke-on-Trent residents have been quick to criticise the lack of regeneration in the city for the low house prices.
Dan Heath, aged 34, who owns a property in the city said:
”The news that Stoke has the lowest average house price in the country comes as no surprise to me.
“I used to live in the centre of Burslem and when you look at areas like Middleport that have been blighted by the council’s bulldozers, it can only have a detrimental effect on house prices in the area”.
Paul Holmes, aged 39, owns a property in Bucknall.
”The area that I live is quite nice but the City has a bad reputation.
“There has been no regeneration. We have no decent amenities and the shopping centre in Hanley is less than useless”.
“If my family want to go shopping for the day we go to Trafford Centre or Cheshire Oaks because at least we can finish the day off in a family friendly chain restaurant like Nando’s, Pizza Express, Bella Italia or somewhere like that”.
“Until Stoke has something that attracts people in instead of encouraging them out, the house prices will only go one way – down!”.
Clare Martin, aged 36, lives with her partner Gary in Weston Coyney.
”The council need to start delivering on what they have promised for years.
“That East West project in Hanley is essential to Stoke becoming an attractive place to visit.
“We miss out on so much in this city it is untrue.
“The politicians and especially our MPs need to get their fingers out and work together to rebuild the run down areas in the City which do nothing but bring the house prices down.
“It’s no good folk moving here to take advantage of the low house prices when there is nothing to do in your spare time and the council are closing all the decent pools and the city farm.