South Derbyshire house prices increased slightly in December

General view of estate agents signs outside a block of flats in Basingstoke, Hampshire.General view of estate agents signs outside a block of flats in Basingstoke, Hampshire.
General view of estate agents signs outside a block of flats in Basingstoke, Hampshire.
House prices increased slightly, by 0.4%, in South Derbyshire in December, new figures show.

House prices increased slightly, by 0.4%, in South Derbyshire in December, new figures show.

The rise contributes to the longer-term trend, which has seen property prices in the area grow by 0.6% over the last year.

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The average South Derbyshire house price in December was £256,319, Land Registry figures show – a 0.4% increase on November.

Over the month, the picture was different to that across the East Midlands, where prices increased 1.6%, but South Derbyshire was above the 0.1% rise for the UK as a whole.

Over the last year, the average sale price of property in South Derbyshire rose by £1,600 – putting the area eighth among the East Midlands’s 35 local authorities with price data for annual growth.

The highest annual growth in the region was in Broxtowe, where property prices increased on average by 5.4%, to £261,000. At the other end of the scale, properties in Lincoln lost 7.7% of their value, giving an average price of £174,000.

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First steps on the property ladder

First-time buyers in South Derbyshire spent an average of £216,400 on their property – £1,500 more than a year ago, and £48,400 more than in December 2018.

By comparison, former owner-occupiers paid £284,200 on average in December – 31.4% more than first-time buyers.

Property types

Owners of flats saw the biggest rise in property prices in South Derbyshire in December – they increased 0.7%, to £138,121 on average. Over the last year, prices rose by 0.2%.

Among other types of property:

  • Detached: up 0.4% monthly; up 1.3% annually; £361,809 average
  • Semi-detached: up 0.7% monthly; up 1.4% annually; £224,059 average
  • Terraced: down 0.2% monthly; down 1.7% annually; £179,828 average

How do property prices in South Derbyshire compare?

Buyers paid 3.2% more than the average price in the East Midlands (£248,000) in December for a property in South Derbyshire. Across the East Midlands, property prices are lower than those across the UK, where the average cost is £285,000.

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The most expensive properties in the East Midlands were in Rutland – £397,000 on average, and 1.5 times the price as in South Derbyshire. Rutland properties cost 2.3 times the price as homes in Lincoln (£174,000 average), at the other end of the scale.

The highest property prices across the UK were in Kensington and Chelsea.

Factfile

Average property price in December

  • South Derbyshire: £256,319
  • The East Midlands:£248,390
  • UK: £284,691

Annual change to December

  • South Derbyshire: +0.6%
  • The East Midlands: -1%
  • UK: -1.4%

Highest and lowest annual growth in the East Midlands

  • Broxtowe: +5.4%
  • Lincoln: -7.7%