Broxtowe house prices dropped more than East Midlands average in September

House prices dropped by 2.2 per cent in Broxtowe in September – more than the average for the East Midlands.
Watch more of our videos on Shots! 
and live on Freeview channel 276
Visit Shots! now

The drop contributes to the longer-term trend, which has seen property prices in the area suffer a 0.4 per cent annual decline.

The average Broxtowe house price in September was £248,082, Land Registry figures show – a 2.2 per cent decrease on August.

Hide Ad
Hide Ad

Over the month, the picture was different to that across the East Midlands, where prices decreased 0.6 per cent, and Broxtowe was lower than the 0.5 per cent drop for the UK as a whole.

House prices have fallen in Broxtowe. Photo: OtherHouse prices have fallen in Broxtowe. Photo: Other
House prices have fallen in Broxtowe. Photo: Other

Over the last year, the average sale price of property in Broxtowe fell by £1,000 – putting the area 26th among the East Midlands’s 35 local authorities with price data for annual growth.

The highest annual growth in the region was in north east Derbyshire, where property prices increased on average by 7.4 per cent, to £257,000.

At the other end of the scale, properties in North Kesteven lost 4.3 per cent of their value, giving an average price of £260,000.

Read More
Big drop in burglary, vehicle crime and ASB in Eastwood South area
Hide Ad
Hide Ad

First-time buyers in Broxtowe spent an average of £215,230 on their property – £690 less than a year ago, but £52,700 more than in September 2018.

By comparison, former owner-occupiers paid £272,450 on average in September – 26.6 per cent more than first-time buyers.

Owners of flats saw the biggest fall in property prices in Broxtowe in September – they dropped 2.9 per cent in price, to £125,801 on average.

Over the last year, prices dropped by 1.3 per cent.

Detached property prices were down 2.1 per cent monthly but up 0.3 per cent annually to £349,414 on average.

Hide Ad
Hide Ad

Semi-detached property prives fell 2.2 per cent monthl and 0.4 per cent annually to £235,115.

Terraced properties were down 2.3 per cent monthly and1.4 per cent annually to an average of £182,999.

Buyers paid 1.2 per cent lessfor a property in Broxtowe in September than the average price in the East Midlands of £251,000.

Across the East Midlands, property prices are lower than those across the UK, where the average cost is £291,000.

The most expensive property prices in the East Midlands were in Rutland – £403,000 on average – while the cheapest were in Bolsover at £175,000 on average.