Mansfield is the cheapest area in north Nottinghamshire for first-time buyers

Mansfield is the region's best place for first-time buyers
Mansfield is the region's best place for first-time buyers

New figures have revealed that Mansfield is the best area for first-time buyers to get a foothold on the property ladder in north Nottinghamshire.

The latest data from the Office of National Statistics shows that first-time buyers in Mansfield paid, on average, £117,954 for their property - a rise £26,000 from five years ago.

At the other end of the scale, first-time buyers in Broxtowe have seen their price tags jump up £31,000 to £154,895.

However, the highest rise for the region is in Ashfield where prices for first-time buyers have jumped up £32,000 to £127,044.

Despite that, Ashfield is still the second-cheapest area in north Nottinghamshire for first-time buyers, coming in ahead of Broxtowe and Bassetlaw, where average prices are up £27,000 to £132.060.

Overall, house prices in Nottinghamshire fell by 0.3 per cent in December, with the average property in the county selling for £177,029 – significantly lower than the UK average of £230,776.

However, the average homeowner in Nottinghamshire will have seen their property jump in value by around £41,000 in the last five years.

The figures for north Nottinghamshire also show that houses in Ashfield increased the most in value in December, rising by 0.7 per cent, while in Mansfield, they rose by 0.4 per cent.

By contrast, prices have fallen by 2.4 per cent in Broxtowe and 1.8 per cent in Bassetlaw.

Between November 2017 and October last year, the most recent 12 months for which sales volume data is available, 14,061 homes were sold in Nottinghamshire - four per cent fewer than in the previous year.

Across the East Midlands, property prices have risen by 4.2 per cent in the last year, to £192,748 on average.

The region outperformed the UK as a whole, which saw the average property value increase by 2.5 per cent.