Most expensive, busiest and trendiest parts of East Lindsey to buy a house revealed

Analysis of new figures reveals that Tetford and Donington was the most expensive area of East Lindsey to buy a house in last year.

Analysis of new figures reveals that Tetford and Donington was the most expensive area of East Lindsey to buy a house in last year.

Zoopla said the data highlights how localised the housing market across England and Wales is, with prices often reflecting the housing stock available in an area.

Data from the Office for National Statistics reveals that of the 37 council wards in East Lindsey, Tetford and Donington saw the highest median house price in 2021, of £320,000.

This was followed by Halton Holegate (£297,500) and Woodhall Spa (£290,500).

By contrast, the cheapest parts of East Lindsey to purchase property were Priory and St James', which had a median house price of £141,988, Spilsby (£144,750) and Mablethorpe (£160,000).

The median – the middle number in a series – is used to ensure the figures are not skewed by extreme highs or lows.

Meanwhile, the number of homes sold in East Lindsey rose from 2,178 in 2020 to 2,745 last year.

Of sales last year, 7% (188) were in Mablethorpe – making it the busiest area for buyers.

At the other end of the scale, Roughton saw just 23 properties sold in 2021, earning it the title of quietest area of East Lindsey's property market.

The Centre for Economics and Business Research said that following a period of significant growth during the pandemic, it expects house prices to experience downward pressure over the next year, as a result of sharp rises in mortgage rates.

Karl Thompson, an economist at the think tank, said the strongest price contractions are expected outside of London and the South East, causing greater regional price disparities.

The number of residential property sales in England increased by 21% to 821,407 between the end of 2020 and the end of last year.

Grainne Gilmore, head of research at Zoopla, said property values vary widely in large part because of the differing housing stock between areas – some neighbourhoods will have a higher number of five-bedroom detached homes, while others will be home to more flats and smaller properties.

But she said the difference between more and less expensive areas may start to narrow.

She added: "The demand for larger detached homes during the pandemic has pushed average values for houses higher over the last year, while price growth for flats has lagged.

"But there are signs that demand for flats in city centres is gaining momentum, so we could see faster rising prices in this part of the market."

The ONS figures also reveal the trendiest area – the one which saw the fastest growth in sales – in East Lindsey.

Of the four wards with at least 100 properties sold, Mablethorpe saw 36% more properties sold in 2021 than in 2020, followed by Sutton on Sea (35%) and Priory & St James' (18%).