THE average house price has risen significantly in Worcester, according to a city estate agent.

Matt Nicol, managing director of Nicol and Co estate agents, said the rise in average house prices in the county proved the housing industry was bouncing back from the pandemic.

Worcester house prices have increased in Worcester by 6.2 per cent rising to an average of £241,400.

Mr Nicol said the company had also seen a rise in the number of houses sold in Worcester, Droitwich and Malvern.

He said: "Average house prices have increased significantly across the county in the last 12 months, with Malvern rising 9.6 per cent to £283,000, Droitwich up 6.4 per cent to £277,700 and Worcester up 6.2 per cent to £241,400.

"In such a dynamic market, if you are considering a move it’s important to know what your budget is, whether that’s getting an updated valuation on your existing home or checking out the latest mortgage deals on offer."

Mr Nicol explained that the local lettings picture was fluctuating over the last twelve months, with the following statistics:

Worcester, 7 per cent up with a monthly rental average of £761

Droitwich down slightly to £755.

Malvern 6.4 per cent ahead at £803.

In the last 12 months, 4,940 residential properties have been sold which is a 49 per cent increase.

The biggest increase in sales was seen in Worcester which had seen over 50 per cent more sales while in Droitwich it has only risen by 17 per cent.

Sales data across the county reads as follows:

  • Worcester, 54 per cent - up to 2,122
  • Malvern, 45 per cent - up to 723
  • Droitwich, 17 per cent - up to 489

Nicol & Co’s local market analysis is based on the latest statistics from Dataloft.