Housing market in Mansfield remains 'very strong' as prices increase

The housing market in Mansfield remains buoyant, say estate agents, as new figures show prices increased by 4 per cent in October.

Thursday, 16th December 2021, 12:41 pm
House prices in Mansfield rose by 4 per cent in October, new figures show.

Data from the Land Registry reveals that the average property price in the town was £166,649, boosting the annual growth figure to 13.7 per cent.

Mansfield outperformed the East Midlands region, where prices dropped by 0.9 per cent, and the UK as a whole, where there was a 1.1 per cent decrease.

The figures reflected the views of Jon Brown, director at multi-award-winning estate agency BuckleyBrown, of Mansfield, who said: “There is a real shortage of housing stock across the area and, with demand still increasing, it is inevitable that prices are going to continue rising.

Sign up to our daily newsletter

The i newsletter cut through the noise

Director Jon Brown, of Mansfield estate agency Buckley Brown, who says the housing market remains very strong.

"The market remains very strong as we approach Christmas and interest levels remain extremely positive.”

Mr Brown was also optimistic about the near future, adding: "I believe the market will continue to be strong as we move into 2022.

"A lot will hinge on what happens with interest rates. Should the Bank of England increase the rates, this will ultimately bring demand down. On the back of this, supply will increase, which is when we will see prices level out.”

Read More

Read More
Nightclubs in Mansfield slam new Covid passport regulations

The Mansfield BID (Business Improvement District) organisation was also encouraged by the latest statistics.

Spokesman Daryl McGreade said: “Many of the town’s estate agents are telling us that the property market is still very strong.

"The lettings sector is also proving very positive, with renters queueing up for properties.”

Over the last year, the average sale price of property in Mansfield has risen by £20,000. Detached houses have gone up by 15.1 per cent to £240,487, semi-detached homes by 13.1 per cent to £155,499 and terraced houses by 13.2 per cent to £120,979.

First-time buyers in Mansfield spent an average of £146,000 on their property in October, which is £17,000 more than a year ago and £41,000 more than five years ago.

Annual growth of 14 per cent has also been achieved in Ashfield, although its property prices dipped slightly in October, by 0.3 per cent to an average of £172,896.

Over the last year, the average sale price of property in the district has still increased by £21,000.

Support your Chad by becoming a digital subscriber. You will see 70 per cent fewer ads on stories, meaning faster load times and an overall enhanced user-experience. Click here to subscribe.