South Holland house prices increased slightly in July

House prices increased slightly, by 0.6%, in South Holland in July, 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 worst in the East Midlands.

The average South Holland house price in July was £230,236, Land Registry figures show – a 0.6% increase on June.

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

Over the last year, the average sale price of property in South Holland fell by £8,200 – putting the area bottom among the East Midlands’s 35 local authorities with price data for annual growth.

The highest annual growth in the region was in Rutland, where property prices increased on average by 15.1%, to £436,000.

First steps on the property ladder

First-time buyers in South Holland spent an average of £194,400 on their property – £6,800 less than a year ago, but £34,000 more than in July 2018.

By comparison, former owner-occupiers paid £250,800 on average in July – 29% more than first-time buyers.

Property types

Owners of terraced houses saw the biggest rise in property prices in South Holland in July – they increased 0.7%, to £157,719 on average. Over the last year, prices dropped by 3.8%.

Among other types of property:

• Detached: up 0.6% monthly; down 3.4% annually; £286,960 average
• Semi-detached: up 0.6% monthly; down 3.4% annually; £196,236 average
• Flats: up 0% monthly; down 4.8% annually; £92,645 average

How do property prices in South Holland compare?

Buyers paid 7.7% less than the average price in the East Midlands (£249,000) in July for a property in South Holland. Across the East Midlands, property prices are lower than those across the UK, where the average cost is £290,000.

The most expensive properties in the East Midlands were in Rutland – £436,000 on average, and 1.9 times the price as in South Holland. Rutland properties cost 2.5 times the price as homes in Bolsover (£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 July

• South Holland: £230,236
• The East Midlands:£249,484
• UK: £289,824

Annual change to July

• South Holland: -3.4%
• The East Midlands: +1.9%
• UK: +0.6%

Highest and lowest annual growth in the East Midlands

• Rutland: +15.1%
• South Holland: -3.4%