House prices up in Mansfield but down in Ashfield

However, over the same period, Ashfield saw prices drop by 0.6 per cent.

The average Mansfield house price in September was £185,928, Land Registry figures show – a 0.2 per cent increase on August.

In Ashfield the average house price was £188,901 – a 0.6 per cent decrease on August.

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

Over the last year, the average sale price of property in Mansfield rose by £1,500 – putting the area 21st among the East Midlands’s 35 local authorities with price data for annual growth.

The Ashfield picture was broadly similar to that across the East Midlands and Ashfield was lower than the drop for the UK as a whole.

Over the last year, the average sale price of property in Ashfield fell by £4,400 – putting the area 32nd 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%, to £257,000. At the other end of the scale, properties in North Kesteven lost 4.3% of their value, giving an average price of £260,000.

First-time buyers in Mansfield spent an average of £163,600 on their property – £1,100 more than a year ago, and £44,100 more than in September 2018.

By comparison, former owner-occupiers paid £204,300 on average in September – 24.9 per cent more than first-time buyers.

Owners of detached houses saw the biggest rise in property prices in Mansfield in September – they increased 0.6 per cent, to £270,321 on average.

Over the last year, prices rose by 2.6 per cent.

Semi-detached property values were up 0.1 per cent monthly and up 0.5 per cent annually to £174,116 on average.

Terraced properties were down 0.1 per cent monthly and 1.2 per cent annually to an average of £133,992.

Flats were also down, 0.4 per cent monthly and 1.1 per cent annually to an average price of £96,222.

First-time buyers in Ashfield spent an average of £167,300 on their property – £4,600 less than a year ago, but £42,400 more than in September 2018.

By comparison, former owner-occupiers paid £208,100 on average in September – 24.4 per cent more than first-time buyers.

Owners of flats saw the biggest fall in property prices in Ashfield in September – they dropped 1.2 per cent in price, to £94,875 on average.

Over the last year, prices dropped by 3.6 per cent.

Detached property values were down 0.3 per cent monthly and 0.9 per cent annually to an average of £271,106.

Semi-detached properties fell 0.7 per cent monthly and 2.8 per cent annually to £174,037 on average.

Terraced peroperty values fell 0.7 per cent monthly and 3.2 per cent annually to £141,855 on average.

Buyers paid 25.9 per cent less than the average price in the East Midlands (£251,000) in September for a property in Mansfield and 24.8 per cent less in Ashfield.

Across the East Midlands, property prices are lower than the UK average of £291,000.