Derbyshire house prices continue to rise - but slower that rest of East Midlands

House prices increased by 2.4% in Derbyshire in June, new figures show.

Thursday, 19th August 2021, 9:29 am
House prices continued to rise, but slower than the rest of the East Midlands and the UK as a whole

The boost contributes to the longer-term trend, which has seen property prices in the area achieve 13.8% annual growth.

The average Derbyshire house price in June was £206,499, Land Registry figures show – a 2.4% increase on May.

Over the month, the picture was less good than that across the East Midlands, where prices increased 5.1%, and Derbyshire underperformed compared to the 4.5% rise for the UK as a whole.

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Over the last year, the average sale price of property in Derbyshire rose by £25,000 – putting the area 11th among the East Midlands’s 45 local authorities for annual growth.

The best annual growth in the region was in Derbyshire Dales, where property prices increased on average by 24.7%, to £319,000. At the other end of the scale, properties in South Kesteven gained 4.2% in value, giving an average price of £230,000.

Owners of terraced houses saw the biggest improvement in property prices in Derbyshire in June – they increased 2.6%, to £157,771 on average. Over the last year, prices rose by 13.9%.

Among other types of property:

Detached: up 2.4% monthly; up 15% annually; £303,739 average

Semi-detached: up 2.2% monthly; up 12.9% annually; £186,932 average

Flats: up 2.3% monthly; up 10.8% annually; £128,807 average

First-time buyers in Derbyshire spent an average of £174,000 on their property – £20,000 more than a year ago, and £39,000 more than in June 2016.

By comparison, former owner-occupiers paid £232,000 on average in June – 33.2% more than first-time buyers.

How do property prices in Derbyshire compare?

Buyers paid 9% less than the average price in the East Midlands (£227,000) in June for a property in Derbyshire. Across the East Midlands, property prices are low compared to those across the UK, where the average cost £266,000.

The most expensive properties in the East Midlands were in South Northamptonshire – £342,000 on average, and 1.7 times as much as in Derbyshire. South Northamptonshire properties cost 2.3 times as much as homes in Bolsover (£147,000 average), at the other end of the scale.

The highest property prices across the UK were in Kensington and Chelsea, where the average June sale price of £1.2 million could buy 13 properties in Burnley (average £99,000).

Factfile

Average property price in June

Derbyshire: £206,499

The East Midlands: £226,846

UK: £265,668

Annual growth to June

Derbyshire: +13.8%

The East Midlands: +14.3%

UK: +13.2%