Average price of a home in Bassetlaw increased by £16,000 over last year

The significant boost contributes to the longer-term trend, which has seen property prices in the area achieve 9.7 per cent annual growth.

The average Bassetlaw house price in January was £182,142, Land Registry figures show – a 5.9 per cent increase on December.

Over the month, the picture was better than that across the East Midlands, where prices decreased 1.2 per cent, and Bassetlaw outperformed the 0.5 per cent drop 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 16th among the East Midlands’s 45 local authorities for annual growth.

The best annual growth in the region was in Derbyshire Dales, where property prices increased on average by 19.5 per cent, to £309,000. At the other end of the scale, properties in Wellingborough remained level at £214,000.

Owners of semi-detached houses saw the biggest improvement in property prices in Bassetlaw in January – they increased 6.2 per cent, to £156,568 on average. Over the last year, prices rose by 9.3 per cent.

Among other types of property:

Detached: up 5.7 per cent monthly; up 10.5 per cent annually; £265,822 average

Terraced: up 5.7 per cent monthly; up 9.5 per cent annually; £129,356 average

Flats: up 4.9 per cent monthly; up 6.1 per cent annually; £94,793 average

First-time buyers in Bassetlaw spent an average of £154,000 on their property – £13,000 more than a year ago, and £37,000 more than in December 2015.

By comparison, former owner-occupiers paid £206,000 on average in January – 34.0 per cent more than first-time buyers.

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