Stoke-on-Trent now ranks in the top four UK cities for house price increases – with the value of the average city home rising by 5.4 per cent year-on-year.
The latest UK Cities House Price Index reveals that the average cost of a house in Stoke-on-Trent is £118,400, which is a 5.5 per cent increase from the year-on-year increase 12 months ago.
Ranked against 64 other cities, Stoke-on-Trent is fourth highest – a rise of six places since April – and ahead of regional neighbours Nottingham, Derby and Telford.
Councillor Joanne Powell-Beckett, the city council’s cabinet member for housing, said: “It’s fantastic that we are continuing to make excellent progress in this way. We have hugely ambitious plans for housing in Stoke-on-Trent, which will lead to more investment, development and job creation.
“This, together with the city’s superb connectivity, means Stoke-on-Trent is becoming a more attractive place to live.
“Good housing leads to improved life chances, health benefits and the ability to make a positive contribution to the economy. We want to ensure there is a broad range of housing on offer across the city so we can encourage people to move here and existing residents to stay. Our priority is quality housing available for people at every stage of life, with our private housing company Fortior Homes and the council aiming to provide 800 homes across the city by 2021.
“Fortior Homes was created to make sure there are no gaps in the market and residents can have the choices they need when deciding on a new home. The company has an investment programme of some £53m, to deliver new homes for rent and sale in the city.
“The council is also investing £54 million into providing new affordable housing, which will ensure a mixture of homes for our older residents, along with family homes and flats.”
This year, the city council was named as the winner in the UK Housing Awards 2019’s Council of the Year category for its strategic approach to housing in Stoke-on-Trent.
To find out more about Fortior Homes go to www.fortiorhomes.co.uk.
To view the UK Cities House Price Index data, go to: https://www.hometrack.com/media/555879/65-city-index-summary-april-2019.pdf?utm_source=hometrack&utm_medium=trade-email&utm_campaign=cities-index-april&utm_source=Hometrack+Newsletters&utm_campaign=778e611e49-EMAIL_CAMPAIGN_2019_05_28_03_59&utm_medium=email&utm_term=0_71d79157a3-778e611e49-88629365
For all media enquiries please contact the press team at Stoke-on-Trent City Council on 01782 232265 (journalist only)