Latest figures show slight fall in Ashfield house prices

The drop contributes to the longer-term trend, which has seen property prices in the area suffer a four per cent annual decline.

The average Ashfield house price in October was £187,632, Land Registry figures show – a 0.4 per cent decrease on September.

Over the month, the picture was different to that across the East Midlands, where prices decreased 1.3 per cent, and Ashfield was above the 0.7 per cent drop for the UK as a whole.

Over the last year, the average sale price of property in Ashfield fell by £7,800 – putting the area 32nd among the East Midlands’s 35 local authorities with price data for annual growth.

First-time buyers in Ashfield spent an average of £166,400 on their property – £7,300 less than a year ago.

By comparison, former owner-occupiers paid £206,500 on average in October – 24.1 per cent more than first-time buyers.

Owners of flats saw the biggest fall in property prices in Ashfield in October – they dropped 0.7 per cent in price, to £93,414 on average.

Over the last year, prices dropped by 5.8 per cent.

Prices of detached properties were down 0.2 per cent monthly and 3.2 per cent annually to £268,421 on average.

Semi-detached prpoerty values fell 0.4 per cent monthly and four per cent annually to £173,560 on average.

Terraced property prices fell 0.5 per cent monthly and 4.8 per cent annually to £140,733 on average

Buyers paid 23.6 per cent less than the average price in the East Midlands (£246,000) in October for a property in Ashfield.