House prices on the rise in Mansfield and Ashfield

Lockdown didn’t stop house prices from going up in Mansfield and Ashfield, according to new figures from the Land Registry.
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The average Mansfield house price in June was £140,722 – a 1.2 per cent increase on May – while in Ashfield, the average house price was £145,656, an increase of one per cent.

Over the month, the picture was less good than that across the East Midlands, where prices increased 2.6 per cent overall, but both Mansfield and Ashfield outperformed the average UK rise over 0.7 per cent.

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Over the last year, the average sale price of property in Mansfield rose by £4,900 – putting the area 19th among the East Midlands’s 40 local authorities for annual growth, with Ashfield just behind in 24th after the area saw an average price rise of £3,000.

House prices have risen in Mansfield and Ashfield over the first half of the yearHouse prices have risen in Mansfield and Ashfield over the first half of the year
House prices have risen in Mansfield and Ashfield over the first half of the year

Owners of semi-detached houses saw the biggest increase in value in their properties in both areas.

In Mansfield, prices of semi-detached properties Mansfield rose 1.2 per cent in value to £132,305, while in Ashfield they increased 1.1 per cent to £134,568.

First-time buyers in Mansfield spent an average of £​124,200 on their property – ​£4,300 more than a year ago – while in Ashfield first-time buyers spent an average of £129,700 on their property, a increase of £2,600 on a year ago.

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By comparison, former owner-occupiers in Mansfield paid £​154,100 on average in June​ – 24.1 per cent more than first-time buyers – while in Ashfield they paid £​159,500 on average, 22.9 per cent more than first-time buyers.