Ashfield house prices suffered a summer drop

House prices in Ashfield fell over the summer, according to new figures.

Monday, 26th October 2020, 10:41 am

But the ​drop ​does not reverse the longer-term trend, which has seen property prices in the area ​achieve 3.2 per cent annual growth​.

Land Registry figures show the average Ashfield house price in August was £149,365​ – a 1.2 per cent decrease on July.

Over the month, the picture was ​worse than that across the East Midlands, where prices ​increased 0.6 per cent​, and Ashfield under-performed compared to the 0.7 per cent rise for the UK as a whole.

House prices in Ashfield fell over the summer. Photo: Daniel Berehulak/Getty Images

Over the last year, the average sale price of property in Ashfield ​​rose by £4,700 – putting the ​area 24th among the East Midlands’s 40 local authorities for annual growth.

​The best annual growth in the region was in Derbyshire Dales, where properties increased on average by 11.9 per cent to £288,000.

At the other end of the scale, properties in South Kesteven dropped 0.9 per cent in value, giving an average price of £219,000.

Owners of flats fared worst in Ashfield in August – as their properties dropped 2.3 per cent in price, to £80,242 on average​.

Terraced properties fell 1.3 per cent in value, detached 1.2 per cent and semi-detached 1.1 per cent.

First-time buyers in Ashfield spent an average of £​133,000 on their property – ​£4,100 more than a year ago, ​and ​£27,000 more than in August 2015.

By comparison, former owner-occupiers paid £​163,600 on average in August​ – 23 per cent more than first-time buyers.