House prices up in Mansfield but down Ashfield new figures reveal

By contrast, prices in Ashfield dropped by 1.7 per cent over the same period.

However, in both areas the longer-term trend continues to see property prices rising overall.

Land Registry figures reveal the average house price in August was £186,059 in Mansfield and £189,813 in Ashfield.

Across the East Midlands overall prices increased 0.6 per cent and Mansfield was above the 0.3 per cent rise for the UK as a whole, while Ashfield was below it.

Over the last year, the average sale price of property in Mansfield rose by £2,600 – putting the area 21st among the East Midlands’s 35 local authorities with price data for annual growth.

Over the same time period, the average sale price of property in Ashfield rose by £3,400, putting it 16th overall in the East Midlands.

First-time buyers in Mansfield spent an average of £163,700 on their property – £2,000 more than a year ago, and £45,200 more than in August 2018.

In Ashfield, they spent an average of £168,300 on their property – £2,500 more than a year ago, and £43,500 more than in August 2018

By comparison, former owner-occupiers in Mansfield paid £204,400 on average in August – 24.9 per cent more than first-time buyers – while in Ashfield they spent £208,900 on average – 24.1 per cent more than first-time buyers.

Owners of semi-detached houses saw the biggest rise in property prices in Mansfield in August, increasing 1.6 per cent to £174,527 on average.

Over the last year, prices rose by 1.3 per cent overall.

Detached property values were up 1.4 per cent to £269,129 on average, terraced propery values climbed 1.2 per cent to £134,317 on average, while flats prices rose 0.8 per cent to £97,110 on average

Buyers paid 25.8 per cent less than the average price in the East Midlands (£251,000) in August for a property in Mansfield.

In Ashfield, oners of flats saw the biggest fall in property prices, dropping 2.2 per cent to £95,936 on average.

Detached property values fell 1.8 per cent to £271,339 on average, semi-detached property values were down 1.6 per cent to £175,337 on average and terraced property values dropped 1.9 per cent to £142,485 on average.