How much have house prices in your area gone up by?


Published : 17th November 2016

News

House prices in Nottingham rose by nearly three per cent between August and September, new figures show.

Data released by the Land Registry shows that the average price for a property in the city stood at £128,192 in September – an increase of 2.6 percent or £3,204 compared to August.

House prices in Rushcliffe rose by 2 percent over the same period to £257,052, while properties in Newark and Sherwood went up by 1.9 percent to £175,442.

House prices went up by 1.1 per cent in Bassetlaw to £143,977, while prices of properties in Mansfield went up by 0.8 percent to £121,911.

The price of homes in Gedling rose by 0.3 percent to £163,986.

The only part of Nottinghamshire to see house prices fall between August and September was Broxtowe.

There the average house price fell by 0.9 per cent to £164,326 – a reduction of £1,495.

Oliver Marshall, property consultant at FHP Living, said the figures reflected his experience of the market.

He said: "In central Nottingham, September proved a busy month with more sales agreed than in August.

Oliver believes that the property market will continue to boom across Nottinghamshire but said there is an issue of a "lack of quality stock" coming to the market.

He said: "Despite the external factors in the market – stamp duty and Brexit – the market here in Nottingham has remained positive and we are always receiving enquiries from many able and willing buyers."

Su Snaith, head of estate agency at The Nottingham Building Society, said there is a "strong demand" for housing across Nottinghamshire.

She said: "Nottingham has an excellent yield on rental properties for investors and has appeared in numerous buy-to-let 'hotspot reports' in both national newspapers and trade press since 2013."

Mrs Snaith said that Nottingham "offers good value for money for both first-time buyer properties and family homes" despite the increase in prices.

She said: "Affordability of these homes should also be a little easier if you work in Nottingham.

"According to a study by job site City Calling, Nottingham tops the Salary Stretch Index, which compares average salaries against the local costs of living.

"With an average salary of £21,000 and an average amount left after bills of £726 a month, people living in Nottingham should be able to save up to £9,000 a year."


Source:- http://www.nottinghampost.com/have-house-prices-in-your-area-gone-up-in-value/story-29907247-detail/story.html#YASTykwSPQ184l0I.99