West Lindsey house prices held steady in April

General view of estate agents signs outside a block of flats in Basingstoke, Hampshire.

House prices remained steady in West Lindsey in April, new figures show.

The lack of movement maintains the longer-term trend, which has seen property prices in the area suffer a 0.1% annual decline – the worst in the East Midlands.

The average West Lindsey house price in April was £208,083, Land Registry figures show – largely unchanged from March.

Over the month, the picture was similar to that across the East Midlands, where prices increased 0.3%, and West Lindsey was lower than the 0.5% rise for the UK as a whole.

Over the last year, the average sale price of property in West Lindsey fell by £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 Melton, where property prices increased on average by 13.3%, to £316,000.

First steps on the property ladder

First-time buyers in West Lindsey spent an average of £173,490.6526 on their property – £60.8517 more than a year ago, and £34,409.4268 more than in April 2018.

By comparison, former owner-occupiers paid £232,415.0281 on average in April – 34% more than first-time buyers.

Property types

Owners of semi-detached houses saw the biggest rise in property prices in West Lindsey in April – they increased 0.2%, to £178,303 on average. Over the last year, prices rose by 0.6%.

Among other types of property:

Detached: up 0.1% monthly; up 0.2% annually; £277,526 average
Terraced: down 0.3% monthly; down 1% annually; £141,597 average
Flats: up 0.2% monthly; down 2.9% annually; £101,048 average

How do property prices in West Lindsey compare?

Buyers paid 16% less than the average price in the East Midlands (£248,000) in April for a property in West Lindsey. Across the East Midlands, property prices are lower than those across the UK, where the average cost £286,000.

The most expensive properties in the East Midlands were in Rutland – £380,000 on average, and 1.8 times the price as in West Lindsey. Rutland properties cost 2.1 times the price as homes in Mansfield (£179,000 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 April

West Lindsey: £208,083
The East Midlands:£247,634
UK: £286,489

Annual change to April

West Lindsey: -0.1%
The East Midlands: +4.6%
UK: +3.5%

Highest and lowest annual growth in the East Midlands

Melton: +13.3%
West Lindsey: -0.1%