Derbyshire house prices rise

House prices in Derbyshire on the up

Monday, 20th August 2018, 4:07 pm
Updated Monday, 20th August 2018, 4:10 pm
House key. Photo by Pixabay.

They increased by 1% in June contributing to a 2.8% surge over the last 12 months.
The average property in the area sold for £173,080 - significantly lower than the UK average of £228,834, according to the latest data released by the Office of National Statistics (ONS).

Across the East Midlands, property prices have risen by 4.1% in the last year, to £187,553. The region outperformed the UK as whole, which saw the average property value increase by 3.0%.

The data comes from the House Price Index, which the ONS compiles using house sale information from the Land Registry, and the equivalent bodies in Scotland and Northern Ireland.

The average homeowner in Derbyshire will have seen their property jump in value by around £37,000 in the last five years.

The figures also showed that buyers who made their first step onto the property ladder in Derbyshire in June spent an average of £146,662 - around £32,000 more than it would have cost them five years ago.

Lawrence Bowles, the associate director of the research team at the estate agents Savills, said the national figures were a “mixed picture” for homeowners.

“Broadly speaking the story of 3% price growth across the country, over the last 12 months, is faster than inflation,” he explained.

“Growth is starting to flow down, with prices increasing across the UK, particularly in the West and East Midlands, Scotland, Wales and Northern Ireland.

“The West Midlands is the stand out area, and this shows a trend of people moving away from London due to cost.”