Chesterfield house prices increased more than East Midlands average in July

The boost contributes to the longer-term trend, which has seen property prices in the area achieve 9.5% annual growth.

The average Chesterfield house price in July was £195,975, Land Registry figures show, a 3.1% increase since June.

Over a month, the picture was better than across the East Midlands, where prices increased by 0.6%, and Chesterfield outperformed the 2% rise for the UK as a whole.

Across the country, the average house price leapt by 15.5% in the year to July, marking the biggest increase in 19 years.

But the increase in annual inflation was mainly because of “a base effect” from the falls in prices seen this time last year, as a result of changes in the stamp duty holiday, the ONS said.

Over the last year, the average sale price of property in Chesterfield rose by £17,000 – putting the area 32nd among the East Midlands’s 35 local authorities with price data for annual growth.

The best annual growth in the region was in East Lindsey, where property prices increased on average by 18.4%, to £235,000. At the other end of the scale, properties in Lincoln gained just 6.3% in value, giving an average price of £179,000.

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Owners of terraced houses saw the biggest improvement in prices in Chesterfield in July – they increased by 3.3%, to £145,014 on average. Over the last year, prices rose by 8.8%. Among other types of property detached houses went up 2.8% monthly and 11% annually to reach the £300,020 average. Semi-detached ones went up by 3.3% monthly and 9.5% annually to reach £184,530 on average, while the flat prices increased by 2.9% per month and by 3.8% per year, reaching an average of £110,868.

First-time buyers in Chesterfield spent about £166,000 on their property – £14,000 more than a year ago, and £38,000 more than in July 2017. By comparison, former owner-occupiers paid £222,000 in July – 33.8% more than first-time buyers.

In July buyers paid 20.9% less for a property in Chesterfield than the average price in the East Midlands, which was £248,000. Across the East Midlands, property prices are low compared to those across the UK, where they cost £292,000 on average.