House prices on the rise in Amber Valley

Lockdown didn’t stop house prices from rising in Amber Valley over the summer, according to new figures from the Land Registry.

Monday, 21st September 2020, 7:45 pm

The boost contributes to the longer-term trend, which has seen property prices in the area achieve 3.8 per cent annual growth.

The average Amber Valley house price in June was £182,458 – a 1.2 per cent increase on May.

Over the month, the picture was less good than that across the East Midlands, where prices increased 2.6 per cent, but Amber Valley outperformed the 0.7 per cent rise for the UK as a whole.

House prices have risen in Amber Valley over the summer

Over the last year, the average sale price of property in Amber Valley rose by £6,700 – putting the area 16th among the East Midlands’s 40 local authorities for annual growth.

Owners of semi-detached houses saw the biggest improvement in property prices in Amber Valley in June – they increased in value by 1.3 per cent, to £164,604 on average.

Over the last year, prices rose by 3.9 per cent.

Prices for detached properties rose by 1.2 per cent while flats rose by 0.8 per cent in value.

First-time buyers in Amber Valley spent an average of £​158,300 on their property – ​£5,700 more than a year ago.

By comparison, former owner-occupiers paid £​202,700 on average in June​ – 28.1 per cent more than first-time buyers.

Buyers paid 9.1 per cent less than the average price in the East Midlands (£201,000) in June for a property in Amber Valley.

Across the East Midlands, property prices are low compared to those across the UK, where the average cost was £238,000.