West Lindsey house prices leapt more than six percent

House prices leapt by more than six percent in West Lindsey in April, new figures show.

House prices leapt by 6.1% in West Lindsey in April, new figures show.
House prices leapt by 6.1% in West Lindsey in April, new figures show.

The average West Lindsey house price in April was £197,067, Land Registry figures show – a 6.1 percent increase on March.

Over the month, the picture was better than that across the East Midlands, where prices decreased 1.1 percent, and West Lindsey outperformed the 1.9 percent drop for the UK as a whole.

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Over the last year, the average sale price of property in West Lindsey rose by £26,000 – putting the area seventh among the East Midlands’s 45 local authorities for annual growth.

Owners of detached houses saw the biggest improvement in property prices in West Lindsey in April – they increased 6.1 percent, to £260,561 on average. Over the last year, prices rose by 15.5 percent.

Meanwhile, flats prices rose six percent monthly; up 11.3 percent annually; £101,692 average

First-time buyers in West Lindsey spent an average of £165,000 on their property – £21,000 more than a year ago, and £43,000 more than in April 2016.

By comparison, former owner-occupiers paid £220,000 on average in April – 33.4 percent more than first-time buyers.

Buyers paid 7.6 percent less than the average price in the East Midlands (£213,000) in April for a property in West Lindsey. Across the East Midlands, property prices are low compared to those across the UK, where the average cost £251,000.

The most expensive properties in the East Midlands were in Rutland – £356,000 on average, and 1.8 times as much as in West Lindsey. Rutland properties cost 2.4 times as much as homes in Bolsover (£150,000 average), at the other end of the scale.

The highest property prices across the UK were in Kensington and Chelsea, where the average April sale price of £1.1 million could buy 11 properties in East Ayrshire (average £105,000).