Amber Valley house prices rising faster than East Midlands average

House prices in Amber Valley increased more than the average for the East Midlands over the summer, according to new figures.

Monday, 26th October 2020, 12:05 pm

The ​boost ​contributes to the longer-term trend, which has seen property prices in the area ​achieve 4.9 per cent annual growth​.

Land Registry figures show the average Amber Valley house price in August was £186,029 – a one per cent increase on July.

Over the month, the picture was ​similar to that across the East Midlands, where prices ​increased 0.6 per cent, and Amber Valley outperformed the 0.7 per cent rise for the UK as a whole.

House prices in Amber Valley are rising faster than across the East Midlands overall. Photo by Daniel Berehulak/Getty Images
House prices in Amber Valley are rising faster than across the East Midlands overall. Photo by Daniel Berehulak/Getty Images

Over the last year, the average sale price of property in Amber Valley ​​rose by £8,700 – putting the ​area 14th among the East Midlands’s 40 local authorities for annual growth.

​The best annual growth in the region was in Derbyshire Dales, where properties increased on average by 11.9 per cent, to £288,000.

​At the other end of the scale, properties in South Kesteven dropped 0.9 per cent in value, giving an average price of £219,000.

Owners of semi-detached houses saw the biggest improvement in the value of their property in Amber Valley in August with an increase of 1.1 per cent to £168,526 on average.

Just behind were terraced properties, which rose one per cent in value, while detached properties rose 0.9 per cent and flats 0.5 per cent.

First-time buyers in Amber Valley spent an average of £​161,300 on their property – ​£7,300 more than a year ago, ​and ​£32,100 more than in August 2015.

By comparison, former owner-occupiers paid £​206,700 on average in August​ – 28.2 per cent more than first-time buyers.