Chesterfield house prices on the up, bucking regional and national trend

Demand for property in Chesterfield is on the up with house prices up 1.3 per cent in January, new figures show.

Monday, 29th March 2021, 3:19 pm
Updated Monday, 29th March 2021, 3:21 pm

The boost contributes to the longer-term trend, which has seen property prices in the area achieve 8.1 per cent annual growth.

The average Chesterfield home price in January was £173,520, Land Registry figures show, a 1.3 per cent increase on December.

However, across the whole of the UK, prices actually fell 0.5 per cent and it was even worse across the East Midlands as a whole, where they dropped 1.2 per cent.

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Over the last year, the average sale price of property in Chesterfield has risen by £13,000 – putting the area 25th among East Midlands’s 45 local authorities for annual growth.

Tom Parker, consumer spokesman and property website Zoopla, said: “UK house prices are up 4.1 per cent year on year and this trend is reflected in property prices in Chesterfield.

“Despite this, the historical market town still has cheaper house prices than nearby Sheffield, making it an attractive option for commuters looking for more space and a slower pace of living.”

The best annual growth in the region was in Derbyshire Dales, where prices increased on average by 19.5 per cent, to £309,000, up 2.1 per cent in January alone.

House prices in Chesterfield are rising, suggesting increased demand for homes.

House prices rose 1.1 per cent in Amber Valley in January to an average of £199,120 – a rise of 10.7 per cent, or 19,000 over the year.

Property prices rose 0.9 per cent in North East Derbyshire in January, to an average of £209,973, an annual rise of £19,000, or 9.8 per cent.

The average price in the East Midlands is £209,927, while across the UK, it is £249,309.

Across the whole of Derbyshire, prices rose 0.3 per cent in January, to an average of £199,112. Over 12 months, this is a rise of £18,000, or 10.2 per cent.

The average Chesterfield house price in January was £173,520, Land Registry figures show – a 1.3 per cent increase on December.

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Detached homes show biggest rise

The data shows owners of semi-detached houses saw the biggest improvement in property prices in Chesterfield in January – up 1.5 per cent for the month and 8 per cent for the year, to an average £163,581 on average.

Detached properties rose 1.2 per cent in January, 9.1 per cent over the year, to an average of £263,157, while terrace homes are also up 1.2 per cent in January, but 8.2 per cent over the year, to an average of £128,505.

Flats are up 3.6 per cent over the year and 0.6 per cent in January, to an average of £103,795.

And the rises mean homes are getting more costly for first-time buyers.

In January, first-time buyers spent an average of £147,000 on their property – £10,000, or 7.2 per cent more than a year ago, against an inflation rate of just 0.7 per cent.

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