House prices up in Mansfield and Ashfield

House prices are up in Mansfield and Ashfield
House prices are up in Mansfield and Ashfield

House prices increased slightly in Mansfield and Ashfield in June, new figures show.

The boost contributes to the longer-term trend, which has seen property prices in Ashfield achieve a 6.1 per cent annual growth, while prices in Mansfield have risen 3.6 per cent.

Land Registry figures show that in June, the average house price in Mansfield was £136,162 and Ashfield was £148,482.

Over the month, both Ashfield and Mansfield outperformed the 0.7 per cent rise for the UK as a whole.

Over the last year, the average sale price of property in Ashfield rose by £8,600, placing it sixth among the East Midlands’s 40 local authorities for annual growth.

The average sale price of property in Mansfield rose by £4,800 – putting the area 14th in the East Midlands.

The best annual growth in the region was in Derbyshire Dales, where properties increased on average by 8.8 per cent, to £279,000.

At the other end of the scale, properties in south Northamptonshire dropped 5.6 per cent in value, giving an average price of £303,000.

READ THIS: No-one buying leasehold homes as 'unsellable' scandal bites.

Owners of detached houses saw the biggest improvement in property prices in Mansfield in June – they increased 0.9 per cent, to £194,047 on average.

Over the last year, prices rose by 3.9 per cent.

Semi-detached peroperties in Mansfield are up 0.8 per cent monthly and 4.1 per cent annually to an average price of £127,688, while flats were up 0.5 per cent monthly and 0.8 per cent annuallyto an average price of £77,321.

Owners of terraced houses were the big winner in Ashfield as they increased four per cent to £112,110 on average.

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

Elsewhere in Ashfield, detached properties were up 3.8 per cent monthly and 6.1 per cent annually to an average price of £209,351.

Semi-detached properties were up 3.8 per cent monthly and 6.6 per cent annuall to an average of £137,410, while flats were up 3.4 per cent monthly and 3.6 per cent annually to £81,953.

First-time buyers in Mansfield spent an average of £ 120,000 on their property – £4,000 more than a year ago, and £21,200 more than in June 2014.

By comparison, former owner-occupiers paid £ 149,400 on average in June – 24.5 per cent more than first-time buyers.

First-time buyers in Ashfield spent an average of £ 132,100 on their property – £7,500 more than a year ago, and £30,000 more than in June 2014, while former owner-occupiers paid £162,700 on average in June – 23.2 per cent more than first-time buyers.

Buyers in Mansfield paid 30.3 per cent less than the average price in the East Midlands (£195,000) in June, while buyers in Ashfield paid 24 per cent less.