South Holland house prices increased in September

House prices increased by 2.3% in South Holland in September, new figures show.

But the rise does not reverse the longer-term trend, which has seen property prices in the area suffer a 3.4% annual decline.

The average South Holland house price in September was £236,749, Land Registry figures show – a 2.3% increase on August.

Over the month, the picture was different to that across the East Midlands, where prices decreased 0.6%, and South Holland was above the 0.5% drop for the UK as a whole.

Over the last year, the average sale price of property in South Holland fell by £8,400 – putting the area 34th among the East Midlands’s 35 local authorities with price data for annual growth.

The highest annual growth in the region was in North East Derbyshire, where property prices increased on average by 7.4%, to £257,000. At the other end of the scale, properties in North Kesteven lost 4.3% of their value, giving an average price of £260,000.

First steps on the property ladder

First-time buyers in South Holland spent an average of £199,700 on their property – £7,000 less than a year ago, but £37,700 more than in September 2018.

By comparison, former owner-occupiers paid £258,000 on average in September – 29.2% more than first-time buyers.

Property types

Owners of detached houses saw the biggest rise in property prices in South Holland in September – they increased 2.5%, to £295,588 on average. Over the last year, prices dropped by 3.3%.

Among other types of property:

How do property prices in South Holland compare?

Buyers paid 5.7% less than the average price in the East Midlands (£251,000) in September for a property in South Holland. Across the East Midlands, property prices are lower than those across the UK, where the average cost is £291,000.

The most expensive properties in the East Midlands were in Rutland – £403,000 on average, and 1.7 times the price as in South Holland. Rutland properties cost 2.3 times the price as homes in Bolsover (£175,000 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 September

• South Holland: £236,749
• The East Midlands:£251,068
• UK: £291,385

Annual change to September

• South Holland: -3.4%
• The East Midlands: +0.4%
• UK: -0.1%

Highest and lowest annual growth in the East Midlands

• North East Derbyshire: +7.4%
• North Kesteven: -4.3%