Hucknall is most expensive place - and most popular - to buy a house in the whole of Ashfield

Zoopla says new data highlights how localised the housing market across England and Wales is, with prices often reflecting the housing stock available in an area.

Data from the Office for National Statistics reveals that of the 23 council wards in Ashfield, Hucknall West saw the highest median house price in 2021, of £210,000.

This was followed by Underwood, at £209,500, and Hucknall North, at £205,000.

By contrast, the cheapest parts of Ashfield to purchase property were Sutton Central and New Cross, which had a median house price of £115,000, Summit in Kirkby (£130,000) and Leamington in Sutton (£132,000).

The median – the middle number in a series – is used to ensure figures are not skewed by extreme highs or lows.

Meanwhile, the number of homes sold in Ashfield rose from 1,681 in 2020 to 1,840 last year.

Of sales last year, 9 per cent, 171, were in Hucknall North and Hucknall West – making them the busiest areas for buyers.

At the other end of the scale, Carsic in Sutton saw just 34 properties sold in 2021, earning it the title of quietest area of Ashfield's property market.

The Centre for Economics and Business Research said, following a period of significant growth during the pandemic, it expects house prices to experience downward pressure over the next year, as a result of sharp rises in mortgage rates.

The number of residential property sales in England increased by 21 per cent to 821,407 between the end of 2020 and the end of 2021.

Grainne Gilmore, Zoopla head of research, said property values vary widely, largely because of the differing housing stock between areas – some neighbourhoods will have a higher number of five-bedroom detached homes, while others will be home to more flats and smaller properties.

But she said the difference between more and less expensive areas may start to narrow. She said: “The demand for larger detached homes during the pandemic has pushed average values for houses higher over the last year, while price growth for flats has lagged.

“However, there are signs demand for flats in city centres is gaining momentum, so we could see faster rising prices in this market.”