Here's what's happened to house prices since coronavirus lockdown began
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But the drop does not reverse the longer-term trend, which has seen property prices in the area achieve 1.3% annual growth.
The average Bassetlaw house price in March was £154,139 – a 4.8 per cent decrease on February.
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Hide AdOver the month, the picture was worse than that across the East Midlands, where prices increased 0.4 per cent, and Bassetlaw underperformed compared to the 0.2 per cent drop for the UK as a whole.
Over the last year, the average sale price of property in Bassetlaw rose by £2,000 – putting the area 22nd among the East Midlands’s 40 local authorities for annual growth.
Owners of terraced houses fared worst in Bassetlaw in March – they saw the value of their properties drop 5.1 per cent in price, to £109,285 on average. Owners of detached properties have seen the value of their homes fall 4.6 per cent, owners of semi-detached have seen their properties drop in value by 4.9 per cent, while flat owners’ properties have dropped 4.9 per cent in value.
First-time buyers in Bassetlaw spent an average of £130,500 on their property – £1,700 more than a year ago, and £23,300 more than in March 2015.