Are house prices rising in YOUR area? Latest House Price Index data shows mixed picture across Derbyshire districts

Economic reports this week showed signs of an upturn in house prices at the start of 2024, but with the Bank of England’s latest decision to hold interest rates at 5.25 per cent, owners and buyers can expect a knock-on effect on property sales – here is a picture of how it has played out in Derbyshire over the past year.

According to House Price Index data from the Office for National Statistics, based on completed transactions, the average price of a home in Derbyshire fell by 1.1 per cent to £229,828 over the 12 months to January 2024.

That is in stark contrast to the 11 per cent rise seen in the South Hams district of Devon, but more resilient than the City of London where prices fell by more than 22 per cent over the same period.

Overall UK house prices fell 0.6 per cent, leaving the average property now valued at £282,000, while as a region the East Midlands fared worse with a 1.9 per cent fall to £240,427.

The decrease in Derbyshire played out across all property types, with the average price of a detached home falling 0.5 per cent to £335,339, semi-detached down 0.7 per cent to £210,298 and terraced houses and flats both down 2.1 per cent to £175,428 and £140,412 respectively.

There were more noticeable variations depending on the location of the property, with some of Derbyshire’s local authority areas seeing price growth and others more significant falls.