The Daventry area has been named as the nation’s top ‘property hotspot’ after recording the largest increase in house sales.
Figures from Lloyds Bank show house sales jumped by 56 per cent when comparing figures for January 2014 - October 2014 with the same 10 months in 2013.
Daventry was joined in the top 10 by areas including Corby, Slough. Alfreton and Sutton in Ashfield.
The data shows in the first 10 months of 2013 the number of properties sold per month in the Daventry area varied between 31 and 57, but in the same period in 2014 it was between 54 and 93 per month.
Compared to house sales in Rugby and Northampton, Daventry appears to have been following the same general trend upwards in numbers until around June 2014 when sales in the Daventry area jumped ahead. This coincides with when several new developments came on the market locally.
However, the impressive increase in house sales does not appear to have significantly impacted on house prices compared to Rugby or Northampton areas – which were not in the top 10 hotspots for sales increase.
From October 2013 to October 2014 Daventry’s average house price rose 14 per cent, compared to 12 per cent for Rugby and 15 per cent for Northampton.
House prices in October 2014 for Daventry were around nine per cent lower than in October 2007 before the economic downturn.