Mansfield house prices increased in February

The boost contributes to the longer-term trend, which has seen property prices in the area achieve 9.4 per cent annual growth.

The average Mansfield house price in February was £166,730, Land Registry figures show, a 1.2 per cent increase on January.

The average Ashfield house price was £180,018, a 0.7 per cent increase on January and annual growth of 12.6 per cent.

Over the month, the picture was better than that across the East Midlands, where prices decreased 0.4 per cent, and Mansfield and Ashfield both outperformed the 0.5 per cent rise for the UK as a whole.

Over the last year, the average sale price of property in Mansfield rose by £14,000 – putting the area 23rd among the East Midlands’s 35 local authorities with price data for annual growth. Ashfield was 13th, with a £20,000 rise

The best annual growth in the region was South Holland, where prices increased on average by 19.7 per cent, to £237,000. At the other end, properties in Bolsover gained just 4.2 per cent in value, to an average of £159,000.

Owners of flats saw the biggest improvement in property prices in Mansfield and Ashfield in February. In Mansfield, they increased 1.5 per cent, to £89,352 on average, an annual rise of 5.9 per cent, while in Ashfield they rose 1.1 per cent to £92,741, an annual rise of 8.4 per cent.

Among other types of property:

Detached: Mansfield – up 1.4 per cent monthly; up 11.7 per cent annually; £242,556 average. Ashfield – up 0.9 per cent monthly; up 14.3 per cent annually; £259,137 average; Semi-detached: Mansfield – up 1.1 per cent monthly; up 8.6 per cent annually; £154,996 average. Ashfield – Semi-detached: up 0.7 per cent monthly; up 12.1 per cent annually; £165,114 average; Terrace: Mansfield – up 1.1 per cent monthly; up 8 per cent annually; £120,656 average. Ashfield – up 0.6 per cent monthly; up 11.7 per cent annually; £135,083 average.

Factfile

Average property price in February: Mansfield, £166,730; Ashfield, £180,018; East Midlands, £235,993; UK, £276,755

Annual growth to February: Mansfield, +9.4 per cent; Ashfield, +12.6 per cent; East Midlands, +10.9 per cent; UK, +10.9 per cent;

Best and worst annual growth in the East Midlands: South Holland, +19.7 per cent; Bolsover, +4.2 per cent.