Mansfield and Ashfield house prices increased more than East Midlands average in May

The rise contributes to the longer-term trend, which has seen property prices in the area grow by 3.1 per cent over the last year.

The average Mansfield house price in May was £183,473.

Over the month, the picture was different to that across the East Midlands, where prices increased one per cent, and Mansfield was above the 1.2 per cent rise for the UK as a whole.

Over the last year, the average sale price of property in Mansfield rose by £5,500 – putting the area 11th among the East Midlands’s 35 local authorities with price data for annual growth.

Figures also show that house prices increased slightly, by 0.7 per cent, in Ashfield in May, which was lower than the 1.2 per cent rise for the UK as a whole.

The average Ashfield house price in May was £184,841.

Over the last year, the average sale price of property in Ashfield fell by £3,800 – 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 11.2 per cent, to £240,000. At the other end of the scale, properties in Rutland lost 4.1 per cent of their value, giving an average price of £354,000.

Buyers paid 25.3 per cent less than the average price in the East Midlands (£246,000) in May for a property in Mansfield and 24.7 per cent less in Ashfield.