December blip as Mansfield underperforms in housing market

However, the drop failed to reverse the longer-term trend, which has seen property prices in the area achieve annual growth of 12.2 per cent.

The figures, released by the Land Registry, show the average house price in Mansfield during December was £166,826, a reduction of 0.1 per cent from November.

Over the month, the picture was worse than that across the East Midlands, where prices went up by 1.1 per cent, and across the UK, where prices increased by 0.8 per cent.

Nevertheless, the average price in Mansfield still rose by £18,000 and 12.2 per cent over the year as a whole, putting it 16th among the 35 local council areas in the East Midlands.

Flats fared worst in Mansfield in December, dropping 0.7 per cent in price to an average of £89,728.

The prices of semi-detached and terraced houses also fell – by 0.4 per cent to an average of £154,762 and by 0.5 per cent to £119,792 respectively.

But detached houses fared better, rising by 0.6 per cent to an average of £244,443.

First-time buyers in Mansfield spent an average of £146,000 on their property in December – £15,000 more than the same month the previous year and £38,000 more than in December 2016.

Meanwhile, in Ashfield, house prices dropped by 1.1 per cent during December to an average of £177,446.

But its annual growth was 12.4 per cent and £20,000, putting it just ahead of Mansfield.

Across the East Midlands, the average property price in December was £235,004 and across the UK, it was £274,712.

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