House prices in Mansfield rising faster than in UK as a whole

House prices in Mansfield rose by 2.8 per cent in November, which was more than the average for the East Midlands and the UK.

By Richard Silverwood
Wednesday, 19th January 2022, 12:55 pm
House prices in Mansfield rose by 2.8 per cent in November, according to the latest Land Registry figures.
House prices in Mansfield rose by 2.8 per cent in November, according to the latest Land Registry figures.

The figures, released by the Land Registry, support the confidence of estate agents in the town that the property market will remain strong going into 2022.

They also maintain a longer-term trend in Mansfield, where prices have achieved annual growth of 15.5 per cent.

The average price of a house in the town in November was £168,917, representing a rise much better than that for the East Midlands, where prices went up by 0.4 per cent to an average of £229,277. In the UK as a whole, the average increased by 1.2 per cent to £270,708.

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Over the last year, Mansfield’s average sale price of property has gone up by £23,000, putting the area eighth of the East Midlands’s 35 local authorities.

Owners of detached houses saw the biggest improvement in prices during November as they rose by 3.2 per cent to £245,705 on average. Growth over the year has been 17.8 per cent.

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Semi-detached properties in Mansfield went up by 2.7 per cent in November and by 14.9 per cent over the year to an average of £157,445.

Terraced homes increased by 2.4 per cent in November and by 13.7 per cent over the year to an average of £121,510.

The average price of flats in the town is now £91,039, up by 11.8 per cent since 2020.

The figures also reveal that first-time buyers in Mansfield spent an average of £148,000 on their property in November – £19,000 more than the previous year and £42,000 more than November, 2016.

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