Mansfield house prices increased slightly in April
House prices increased slightly, by 0.3 per cent, in Mansfield in April, new figures show.
The boost contributes to the longer-term trend, which has seen property prices in the area achieve 10.9 per cent annual growth.
The average Mansfield house price in April was £154,237, Land Registry figures show – a 0.3 per cent increase on March.
Over the month, the picture was better than that across the East Midlands, where prices decreased 1.1 per cent, and Mansfield outperformed the 1.9 per cent drop for the UK as a whole.
Over the last year, the average sale price of property in Mansfield rose by £15,000 – putting the area 20th among the East Midlands’s 45 local authorities for annual growth.
The best annual growth in the region was in Melton, where property prices increased on average by 26.2 per cent, to £273,000.
At the other end of the scale, properties in Corby remained level at £191,000.
Winners and Losers
Owners of semi-detached houses saw the biggest improvement in property prices in Mansfield in April – they increased 0.4 per cent, to £144,569 on average.
Over the last year, prices rose by 10.7 per cent.
Among other types of property:
Detached: up 0.1 per cent monthly; up 11.1 per cent annually; £219,975 average
Terraced: up 0.3 per cent monthly; up 11.1 per cent annually; £112,804 average
Flats: up 0.2 per cent monthly; up 8.4 per cent annually; £84,607 average
First steps on the property ladder
First-time buyers in Mansfield spent an average of £136,000 on their property – £13,000 more than a year ago, and £31,000 more than in April 2016.
By comparison, former owner-occupiers paid £169,000 on average in April – 24.3 per cent more than first-time buyers.
How do property prices in Mansfield compare?
Buyers paid 27.7 per cent less than the average price in the East Midlands (£213,000) in April for a property in Mansfield.
Across the East Midlands, property prices are low compared to those across the UK, where the average cost £251,000.
The most expensive properties in the East Midlands were in Rutland – £356,000 on average, and 2.3 times as much as in Mansfield.
Rutland properties cost 2.4 times as much as homes in Bolsover (£150,000 average), at the other end of the scale.
The highest property prices across the UK were in Kensington and Chelsea, where the average April sale price of £1.1 million could buy 11 properties in East Ayrshire (average £105,000).
Average property price in April
The East Midlands: £213,308
Annual growth to April
Mansfield: +10.9 per cent
The East Midlands: +9.3 per cent
UK: +8.9 per cent
Best and worst annual growth in the East Midlands
Melton: +26.2 per cent
Corby: 0.0 per cent