New figures show rise in Bassetlaw house prices

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House prices increased by 1.1 per cent in Bassetlaw in October, new figures show.

The rise contributes to the longer-term trend, which has seen property prices in the area grow by 0.2 per cent over the last year.

The average Bassetlaw house price in October was £205,035, Land Registry figures show – a 1.1 per cent increase on September.

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Over the month, the picture was different to that across the East Midlands, where prices decreased 1.3 per cent, and Bassetlaw was above the 0.7 per cent drop for the UK as a whole.

Property prices have risen in Bassetlaw. Photo: OtherProperty prices have risen in Bassetlaw. Photo: Other
Property prices have risen in Bassetlaw. Photo: Other

Over the last year, the average sale price of property in Bassetlaw rose by £420 – putting the area 18th among the East Midlands’s 35 local authorities with price data for annual growth.

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First-time buyers in Bassetlaw spent an average of £173,120 on their property – £390 more than a year ago, and £40,310 more than in October 2018.

By comparison, former owner-occupiers paid £231,780 on average in October – 33.9 per cent more than first-time buyers.

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Owners of detached houses saw the biggest rise in property prices in Bassetlaw in October, increasing 1.4 per cent monthly and 1.2 per cent annuall, to £303,230 on average.

Semi-detached property values were up 1.1 per cent monthly and 0.1 per cent annually to £175,970 on average.

Terraced property prices rose 0.8 per cent monthly but are down 1.1 per cent annually to £143,823 on average.

Flats are up 0.3 per cent monthly but down 3.2 per cent annually to £97,310 on average

Buyers paid 16.5 per cent less than the average price in the East Midlands (£246,000) in October for a property in Bassetlaw.

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