House prices in Mansfield are on the up new figures show - but falling in Ashfield
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The latest UK house price index shows home prices increased by an average of 2.5 per cent in Mansfield in June – but dropped 1.1 per cent in Ashfield at the same time.
The boost in Mansfield contributes to the longer-term trend, which has seen property prices in the area achieve 15.5 per cent annual growth, while Ashfield has seen a 9 per cent annual growth.
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Hide AdThe average Mansfield house price in June was £161,804, Land Registry figures show, while in Ashfield it was £159,280.
Over the month, the picture was less good than that across the East Midlands, where prices increased 5.1 per cent.
Lewis Shaw, founder of Mansfield Business Centre-based mortgage broker Shaw Financial Services, said: “This summer saw property prices driven up by both the stamp duty holiday and the working-from-home phenomenon.
“The data we have shows that, at the top end of the market, prices have softened a little, but that the rest of the market is still very buoyant.
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Hide Ad“The rest of the year is likely to be business as usual given the shortage of stock, so anyone expecting to pick up a bargain or waiting for prices to crash is going to be sorely disappointed.”
Over the last year, the average sale price of property in Mansfield rose by £22,000 – putting the area eighth among the East Midlands’s 45 local authorities for annual growth. Ashfield was 35th, with an average sale price rise of £13,000.
The best annual growth in the region was in Derbyshire Dales, where property prices increased on average by 24.7 per cent, to £319,000.
At the other end of the scale, properties in South Kesteven, Lincolnshire, gained 4.2 per cent in value, giving an average price of £230,000.
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Hide AdTerrace homes on the up
Owners of terrace houses fared best. They saw the biggest improvement in property prices in Mansfield in June – they increased 2.7 per cent, to £118,519 on average – and the smallest fall in Ashfield, down 0.9 per cent to an average of £120,951.
Owners of semi-detached houses fared worst in Ashfield in June – they dropped 1.4 per cent, to £146,024 on average. In Mansfield they rose 2.3 per cent to an average of £150,723.