Foregt London, the country’s latest property hotspot is...Alfreton, as a new report reveals the town has clocked up the second-highest number of house sales in England and Wales.
The latest Lloyds Bank property sales report, released this week, revealed that Alfreton has shown one of the highest increases in transactions in the first ten months of 2014.
Lloyds Bank mortgages director Andy Hulme said: “The recovery in the housing market continued in 2014, with sales rising further in almost all areas of the country.
“Low interest rates, improvements in the UK economy and Government schemes such as Help to Buy appear to have contributed to the rise in home sales.”
The report claims that compared to the same months in 2013, house sales grew by 53per cent in Alfreton. This was second to Daventry where sales increased by 56per cent.
The report stated: “Four towns recorded a 50per cent or more increase in sales between 2013 and 2014, with the biggest rises in Daventry at 56per cent and Alfreton at 53per cent. “Both towns are in the East Midlands, with the region accounting for four of the ten towns recording the largest sales rises.”
Lloyds found property sales across England and Wales were 21per cent higher in 2014 compared to the previous year.
All the regions saw rises, according to Lloyds, with the East Midlands leading the way with 26per cent followed by the West Midlands at 25per cent and the North West at 25per cent with the smallest rise in Greater London at 11per cent.
Lloyds stated there has been a considerable improvement in sales since the market reached the depth of its recession in 2009.
Its report states sales in the first ten months of 2014 were 60per cent higher than in the same period in 2009. Nonetheless, sales remained more than a quarter below the levels achieved at the height of the boom in 2007.
Mr Hulme explained that sales nationally and regionally are still below pre-recession levels.
He added: “There is a clear north versus south pattern to the housing market recovery with sales closer to their 2007 levels in the south.
“Indeed, a small number of towns recorded higher sales last year than seven years earlier, but sales remained much lower than 2007 levels in most areas.”
Residential property expert Chris Brown, of Sowter and Brown, said he regards Alfreton as a place on the up with excellent road links, great countryside walking, good schooling, solid employment with affordable house prices.