Derbyshire Dales house prices soared over the summer

House prices leapt by 5.2 per cent in Derbyshire Dales over the summer, new figures show.

Monday, 26th October 2020, 11:52 am

The ​significant boost ​contributes to the longer-term trend, which has seen property prices in the area ​achieve 11.9 per cent annual growth​ – the highest in the East Midlands.

Land Registry figures show the average Derbyshire Dales house price in August was £287,669​ – a 5.2 per cent increase on July.

Over the month, the picture was ​better than that across the East Midlands, where prices ​increased 0.6 per cent​, and Derbyshire Dales outperformed the 0.7 per cent rise for the UK as a whole.

Derbyshire Dales now has the best annual growth rate for housing in the East Midlands. Photo: Daniel Berehulak/Getty Images

Over the last year, the average sale price of property in Derbyshire Dales ​​rose by £30,000 – putting the ​area top among the East Midlands’s 40 local authorities for annual growth.

​​At the other end of the scale, properties in South Kesteven dropped 0.9 per cent in value, giving an average price of £219,000.

Owners of terraced houses saw the biggest improvement in property prices in Derbyshire Dales in August – they increased 5.5 per cent, to £224,632 on average.

Owners of detached and semi-detached properties both saw their properties rise by 5.3 per cent in value, while flats were up 4.2 per cent.

First-time buyers in Derbyshire Dales spent an average of £​238,000 on their property – ​£25,000 more than a year ago, ​and ​£42,000 more than in August 2015.

By comparison, former owner-occupiers paid £​315,000 on average in August​ – 32.2 per cent more than first-time buyers.