Eastwood and Kimberley house prices dropped slightly in April

However, the drop does not reverse the longer-term trend, which has seen property prices in the area grow 10 per cent over the last year.

The average Broxtowe borough price in April was £247,742, Land Registry figures show, 0.3 per cent down on March.

The picture was similar to that across the East Midlands, where prices increased 0.3 per cent. Broxtowe was lower than the 0.5 per cent rise for the UK as a whole.

Over the last year, the average sale price of property in Broxtowe rose £22,000, putting the area third among the East Midlands’s 35 local authorities for annual growth.

The highest regional annual growth was in Melton, where prices increased on average by 13.3 per cent, to £316,000. At the other end of the scale, properties in West Lindsey lost 0.1 per cent of their value, giving an average of £208,000.

First steps on the property ladder

First-time buyers in Broxtowe spent an average of £215,000 on their property, £20,000 more than in April 2022 and £54,000 more than in April 2018.Former owner-occupiers paid £272,000 on average in April, 26.8 per cent more than first-time buyers.

Property types

Owners of terrace houses saw the biggest fall in prices in Broxtowe in April, down 0.6 per cent, to £181,681 on average. However, over the last year, prices rose 9.4 per cent.

Other types of property:

• Detached: down 0.4 per cent monthly; up 10 per cent annually; £349,669 average;
• Semi-detached: down 0.2 per cent monthly; up 10.3 per cent annually; £234,640 average;
• Flats: down 0 per cent monthly; up 9.2 per cent annually; £127,512 average.

How do property prices in Broxtowe compare?

Buyers paid roughly the same as the average price in the East Midlands of £248,000 in April for a property in Broxtowe. The most expensive properties in the East Midlands were in Rutland; £380,000 average and 1.5 times the price in Broxtowe. Rutland properties cost 2.1 times the price of homes in Mansfield, £179,000 average, at the other end of the scale.

Factfile

Average April price

• Broxtowe: £247,742;
• East Midlands:£247,634;
• UK: £286,489.

Annual change to April

• Broxtowe: 10 per cent;
• The East Midlands: 4.6 per cent;
• UK: 3.5 per cent.

East Midlands highest and lowest annual growth

• Melton: 13.3 per cent;
• West Lindsey: -0.1 per cent.