Increase in house prices across North East Derbyshire
House prices increased slightly in North East Derbyshire in June, new figures show.
The boost contributes to the longer-term trend, which has seen property prices in the area achieve 2.3% annual growth .
The average North East Derbyshire house price in June was £184,613, Land Registry figures show – a 0.1% increase on May.
Over the month, the picture was less good than that across the East Midlands, where prices increased 1.6% , and North East Derbyshire underperformed compared to the 0.7% rise for the UK as a whole.
Over the last year, the average sale price of property in North East Derbyshire rose by £4,100 – putting the area 23rd among the East Midlands’s 40 local authorities for annual growth.
The best annual growth in the region was in Derbyshire Dales, where properties increased on average by 8.8%, to £279,000. At the other end of the scale, properties in South Northamptonshire dropped 5.6% in value, giving an average price of £303,000.
Owners of terraced houses saw the biggest improvement in property prices in North East Derbyshire in June – they increased 0.4%, to £135,503 on average. Over the last year, prices rose by 2.2%.
Among other types of property:
Detached: up 0.1% monthly; up 2.2% annually; £250,839 average
Semi-detached: remained level over the month; up 2.5% annually; £160,252 average
Flats: down 0.1% monthly; up 0.3% annually; £98,176 average
First steps on the property ladder
First-time buyers in North East Derbyshire spent an average of £ 155,700 on their property – £3,100 more than a year ago, and £26,300 more than in June 2014.
By comparison, former owner-occupiers paid £ 202,900 on average in June – 30.3% more than first-time buyers.
How do property prices in North East Derbyshire compare?
Buyers paid 5.5% less than the average price in the East Midlands (£ 195,000) in June for a property in North East Derbyshire. Across the East Midlands, property prices are lower than those across the UK, where the average cost £230,000.
The most expensive properties in the East Midlands were in Rutland – £327,000 on average, and 1.8 times as much as in North East Derbyshire. Rutland properties cost 2.4 times as much as homes in Bolsover (£136,000 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 £1.3 million could buy 14 properties in Burnley (average £89,000).
Average property price in June
North East Derbyshire: £184,613
The East Midlands: £195,344
Annual growth to June
North East Derbyshire: +2.3%
The East Midlands: +3.2%
Best and worst annual growth in the East Midlands
Derbyshire Dales: +8.8%
South Northamptonshire: -5.6%