Revealed: towns close to Horncastle with bumper increase in property prices
Property prices in an area close to Horncastle have risen by a larger margin than almost anywhere else in Lincolnshire, new research has revealed.
The House Price Change Report has been compiled to help rank neighbourhoods across the country based on their house-price percentage change from September 2023 to September 2024.
And in Lincolnshire, the area of Coningsby and Woodhall Spa ranks in second spot for the highest increase, with the median price rising from £218,950 to £245,000, which represents a jump of 11.9 per cent.
Only the area of Harlaxton, Colsterworth and South Witham, which is part of the South Kesteven district, rated higher, with an increase of 17.9 per cent from £240,000 to £283,000.
Second place in the East Lindsey district goes to Wragby, Roughton and Ludford, where the median price rose by eight per cent – from £220,000 to £237,500. In third sits Skegness South, where properties increased from £184,975 to £195,000, representing 5.4 per cent.
The report has been compiled by Online Marketing Surgery, a marketing agency based in Staffordshire, in conjunction with BLG Development Finance, a lender based in Surrey.
They analysed house price trends, using property data from the Office Of National Statistics (ONS). They assessed the median house prices and then worked out the highest increase and decrease percentages.
With regard to decreases, two East Lindsey areas feature in the top ten. In fourth place is Mareham, Sibsey and New Leake, where property prices went down from an average of £265,000 to £230,000 – a drop of 13.2 per cent.
In ninth spot is Holton-le-Clay, Binbrook and Tetney, which recorded a ten per cent decrease, from £250,000 to £225,000.
The highest Lincolnshire decrease came in the North Kesteven area of Ruskington North and Billinghay, where the median price plunged from £255,000 to £210,000 (17.6 per cent).
Across the UK as a whole, the biggest increases were found in Bradford, Trafford (Manchester), Newcastle-under-Lyme (Staffordshire) and the London areas of Hammersmith and Fulham, and Croydon.
The highest UK decreases were registered in Westminster, Milton Keynes, Salford, Hackney and County Durham.
A spokesperson for Online Marketing Surgery said: “The current patterns suggest a market that is realigning rather than fundamentally weakening, with clear opportunities in specific areas, despite broader challenges.
“A migration of value to suburban locations, particularly in London’s outer regions, might represent a lasting shift in the market’s structure.
"However, significant price corrections in some prime central areas could also present opportunities for buyers who have been previously priced out of these markets.
“This analysis emphasises the importance of detailed local market knowledge and suggests that while the overall market might be cooling, opportunities for both buyers and sellers continue to exist in specific locations.
"The key is understanding where these opportunities lie and what factors are driving local market performance.”