This is how much Bassetlaw house prices leapt up by in March
House prices leapt by 6.3 per cent in Bassetlaw in March, new figures show.
The significant boost contributes to the longer-term trend, which has seen property prices in the area achieve 16.3 per cent annual growth.
The average Bassetlaw house price in March was £186,025, Land Registry figures show – a 6.3 per cent increase on February.
Over the month, the picture was better than that across the East Midlands, where prices increased 1.9 per cent, and Bassetlaw outperformed the 1.8 per cent rise for the UK as a whole.
Over the last year, the average sale price of property in Bassetlaw rose by £26,000 – putting the area seventh among the East Midlands’s 45 local authorities for annual growth.
Owners of detached houses saw the biggest improvement in property prices in Bassetlaw in March – they increased 6.5 per cent, to £272,039 on average. Over the last year, prices rose by 17.3 per cent.
Among other types of property:
Semi-detached: up six per cent monthly; up 15.5 per cent annually; £159,232 average
Flats: up 5.4 per cent monthly; up 10.8 per cent annually; £96,679 average
First-time buyers in Bassetlaw spent an average of £157,000 on their property – £21,000 more than a year ago, and £43,000 more than in March 2016.
By comparison, former owner-occupiers paid £210,000 on average in March – 33.9 per cent more than first-time buyers.
How do property prices in Bassetlaw compare?
Buyers paid 15.4 per cent less than the average price in the East Midlands (£220,000) in March for a property in Bassetlaw. Across the East Midlands, property prices are low compared to those across the UK, where the average cost £256,000.
The most expensive properties in the East Midlands were in Rutland – £362,000 on average, and 1.9 times as much as in Bassetlaw. Rutland properties cost 2.4 times as much as homes in Bolsover (£149,000 average), at the other end of the scale.
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