Bassetlaw house prices dropped slightly in May

But the drop does not reverse the longer-term trend, which has seen property prices in the area grow by 8.4 per cent over the last year.

The average Bassetlaw house price in May was £205,541. Land Registry figures show a 0.1 per cent decrease on April.

Over the month, the picture was different to that across the East Midlands, where prices increased one per cent, and Bassetlaw was lower than the 1.2 per cent rise for the UK as a whole.

Over the last year, the average sale price of property in Bassetlaw rose by £16,000 – putting the area second 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 11.2 per cent, to £240,000. At the other end of the scale, properties in Rutland lost 4.1 per cent of their value, giving an average price of £354,000.

Buyers paid 16.3 per cent less than the average price in the East Midlands (£246,000) in May for a property in Bassetlaw.

Across the East Midlands, property prices are lower than those across the UK, where the average cost is £285,000.

The most expensive properties in the East Midlands were in Rutland – £354,000 on average, and 1.7 times the price as in Bassetlaw.

Rutland properties cost twice the price as homes in Bolsover (£178,000 average), at the other end of the scale.