Ashfield house prices dropped in April

However, the drop does not reverse the longer-term trend, which has seen property prices in the area grow by 2.4 per cent over the last year.

The average Ashfield price in April was £185,509, Land Registry figures show, 1 per cent down on March..

The picture was similar to that across the East Midlands, where prices increased 0.3 per cent. Ashfield was lower than the 0.5 per cent rise for the UK as a whole.

Over the last year, the average sale price of property in Ashfield rose by £4,400 – putting the area 30th among the East Midlands’s 35 local authorities with price data for annual growth.

The highest regional annual growth was Melton, where prices increased, on average, 13.3 per cent, to £316,000. At the other end of the scale, properties in West Lindsey lost 0.1 per cent of their value, for an average of £208,000.

First steps on the property ladder

First-time buyers in Ashfield spent an average of £164,300 on their property, £3,500 more than in April 2022 and £42,600 more than in April 2018. Former owner-occupiers paid £204,500 on average, 24.5 per cent more than first-time buyers.

Property types

Terrace house owners saw the biggest fall in property prices in Ashfield in April, down 1.4 per cent, to £138,235 on average. However, over the last year, prices rose 1.7 per cent.

Other types of property:

• Detached: down 0.9 per cent monthly; up 3 per cent annually; £266,665 average;
• Semi-detached: down 1 per cent monthly; up 2.4 per cent annually; £171,339 average;
• Flats: down 0.7 per cent monthly; up 0.7 per cent annually; £94,037 average.

How do property prices in Ashfield compare?

Buyers paid 25.1 per cent less than the average price in the East Midlands of £248,000 in April for a property in Ashfield. The most expensive properties in the East Midlands were in Rutland, average £380,000 and twice the price as in Ashfield. Rutland properties cost 2.1 times the price of homes in Mansfield, £179,000 average, at the other end of the scale.

Factfile

Average April price

• Ashfield: £185,509;
• East Midlands:£247,634;
• UK: £286,489.

Annual change to April

• Ashfield: 2.4 per cent;
• The East Midlands: 4.6 per cent;
• UK: 3.5 per cent.

East Midlands highest and lowest annual growth

• Melton: 13.3 per cent;
• West Lindsey: -0.1 per cent.