Good news for home owners as West Northamptonshire house prices rise more than East Midlands average

House prices increased by 0.7 percent across West Northamptonshire during November — more than the East Midlands average.

The boost contributes to a longer-term trend that has seen property prices in the area achieve 9.2 percent annual growth.

Average West Northamptonshire house price in November was £275,221, Land Registry figures show – a 0.7 percent increase on October.

Over the month, the picture was similar to that across the East Midlands, where prices increased 0.4 percent, but West Northamptonshire underperformed compared to the 1.2 percent rise for the UK as a whole.

Over the last year, the average sale price of property in West Northamptonshire rose by £23,000 – putting the area 30th among the East Midlands’s 35 local authorities with price data for annual growth.

The best annual growth in the region was in Rushcliffe, where property prices increased on average by 19.1 percent, to £348,000. At the other end of the scale, properties in North East Derbyshire gained just seven percent in value, giving an average price of £222,000.

Winners and Losers

Owners of detached houses saw the biggest improvement in property prices in West Northamptonshire in November – they increased 1.2 percent, to £448,107 on average. Over the last year, prices rose by 10.2 percent. Among other types of property:

■ Semi-detached: up 0.8 percent monthly; up 9.6 percent annually; £262,112 average

■ Terraced: up 0.4 percent monthly; up 8.7 percent annually; £210,037 average

■ Flats: up 0 percent monthly; up 6.4 percent annually; £141,953 average

First steps on the property ladder

First-time buyers in West Northamptonshire spent an average of £230,000 on their property – £19,000 more than a year ago, and £41,000 more than in November 2016.

By comparison, former owner-occupiers paid £310,000 on average in November – 34.9 percent more than first-time buyers.

How do property prices in West Northamptonshire compare?

Buyers paid 20 percent more than the average price in the East Midlands — £229,000 — in November for a property in West Northamptonshire. Across the East Midlands, property prices are high compared to those across the UK, where the average cost £271,000.

The most expensive properties in the East Midlands were in Rutland, £370,000 on average, and 1.3 times as much as more than in West Northamptonshire. Rutland properties cost 2.3 times as much as homes in Bolsover — £160,000 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 November

■ West Northamptonshire: £275,221

■ The East Midlands: £229,277

■ UK: £270,708

Annual growth to November

■ West Northamptonshire: +9.2 percent

■ The East Midlands: +10.7 percent

■ UK: +10 percent