House prices are up in Chesterfield

Lockdown hasn’t stopped house prices from rising slightly in Chesterfield, new figures from the Land Registry show.
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The boost contributes to the longer-term trend, which has seen property prices in the area achieve 0.8 per cent annual growth.

The average Chesterfield house price in June was £160,586 – a 0.3 per cent increase on May.

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However, over the month, the picture was less good than that across the East Midlands – where prices increased 2.6 per cent – and Chesterfield underperformed compared to the 0.7 per cent rise for the UK as a whole.

House prices have risen slightly in ChesterfieldHouse prices have risen slightly in Chesterfield
House prices have risen slightly in Chesterfield

Over the last year, the average sale price of property in Chesterfield rose by £1,300 – putting the area 30th among the East Midlands’s 40 local authorities for annual growth.

Owners of detached houses saw the biggest improvement in property prices in Chesterfield in June – they increased 0.3 per cent in value to £242,326 on average.

Over the last year, prices rose by 1.3 per cent.

By contrast, owners of flats saw the value of their properties fall by 01. per cent monthly and three per cent annually to £97,427 on average.

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First-time buyers in Chesterfield spent an average of £​136,110 on their property – ​£870 more than a year ago.

By comparison, former owner-occupiers paid £​181,290 on average in June​ – 33.2 per cent more than first-time buyers.

Buyers paid 20 per cent less than the average price in the East Midlands (£201,000) in June for a property in Chesterfield.

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