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 2.3 per cent annual decline.

The average Ashfield house price in September was £188,901, Land Registry figures show – a 0.6 per cent decrease on August.

Over the month, the picture was similar to that across the East Midlands, where prices decreased 0.6%, and Ashfield was lower than the 0.5 per cent drop for the UK as a whole.

Over the last year, the average sale price of property in Ashfield fell by £4,400 – putting the area 32nd among the East Midlands’s 35 local authorities with price data for annual growth.

The highest annual growth in the region was in north east Derbyshire, where property prices increased on average by 7.4 per cent, to £257,000.

At the other end of the scale, properties in North Kesteven lost 4.3 per cent of their value, giving an average price of £260,000.

First-time buyers in Ashfield spent an average of £167,300 on their property – £4,600 less than a year ago, but £42,400 more than in September 2018.

By comparison, former owner-occupiers paid £208,100 on average in September – 24.4 per cent more than first-time buyers.

Owners of flats saw the biggest fall in property prices in Ashfield in September – they dropped 1.2 per cent in price, to £94,875 on average.

Over the last year, prices dropped by 3.6 per cent.

Detached property values were down 0.3 per cent monthly and 0.9 per cent annually to an average of £271,106.

Semi-detached properties fell 0.7 per cent monthly and 2.8 per cent annually to £174,037 on average.

Terraced peroperty values fell 0.7 per cent monthly and 3.2 per cent annually to £141,855 on average.

Buyers paid 24.8 per cent less than the average price in the East Midlands (£251,000) in September for a property in Ashfield.

Across the East Midlands, property prices are lower than those across the UK, where the average cost is £291,000.

The most expensive properties in the East Midlands were in Rutland – £403,000 on average – wihle homes in Bolsover are the cheapest at £175,000 on average.