Broxtowe house prices increased at the start of this year
House prices increased by 3.5% in Broxtowe in January, new figures show.
The boost contributes to the longer-term trend, which has seen property prices in the area achieve 14.3% annual growth.
The average Broxtowe house price in January was £214,357, Land Registry figures show – a 3.5% increase on December.
Over the month, the picture was better than that across the East Midlands, where prices decreased 1.2%, and Broxtowe outperformed the 0.5% drop for the UK as a whole.
Over the last year, the average price of property in Broxtowe rose by £27,000 – putting the area fifth among the East Midlands’s 45 local authorities for annual growth.
Owners of semi-detached houses saw the biggest improvement in property prices in Broxtowe in January – they increased 3.8%, to £202,401 on average. Over the last year, prices rose by 14.2%.
First-time buyers in Broxtowe spent an average of £185,000 on their property – £22,000 more than a year ago, and £50,000 more than in December 2015.