Bassetlaw house prices increased in September

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House prices increased by three per cent in Bassetlaw in September, new figures show.

The rise contributes to the longer-term trend, which has seen property prices in the area grow by 2.2 per cent over the last year.

The average Bassetlaw house price in September was £210,482, Land Registry figures show – a three per cent increase on August.

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Over the month, the picture was different to that across the East Midlands, where prices decreased 0.6 per cent, and Bassetlaw was above the 0.5 per cent drop for the UK as a whole.

House prices have risen in Bassetlaw. Photo: OtherHouse prices have risen in Bassetlaw. Photo: Other
House prices have risen in Bassetlaw. Photo: Other

Over the last year, the average sale price of property in Bassetlaw rose by £4,400 – putting the area 15th among the East Midlands’s 35 local authorities with price data for annual growth.

The highest annual growth in the region was in north east Derbyshire, where property prices increased on average by 7.4 per cent, to £257,000.

At the other end of the scale, properties in North Kesteven lost 4.3 per cent of their value, giving an average price of £260,000.

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First-time buyers in Bassetlaw spent an average of £177,700 on their property – £3,800 more than a year ago, and £45,600 more than in September 2018.

By comparison, former owner-occupiers paid £237,900 on average in September – 33.8 per cent more than first-time buyers.

Owners of detached houses saw the biggest rise in property prices in Bassetlaw in September – they increased 3.2 per cent, to £312,145 on average.

Over the last year, prices rose by 3.6 per cent

Semi-detached property values rose 2.9 per cent monthly and 1.6 per cent annually to £179,841 on average.

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Terraced properties were up 2.8 per cent monthly and 0.8 per cent annually to an average of £147,930.

Flats were up two per cent monthly but down 0.8 per cent annually to £100,600 on average.

Buyers paid 16.2 per cent less than the average price in the East Midlands (£251,000) in September for a property in Bassetlaw.

Across the East Midlands, property prices are lower than those across the UK, where the average cost is £291,000.

The most expensive property prices in the East Midlands were in Rutland – £403,000 on average – while the cheapest were in Bolsover at £175,000 on average.