High Peak house prices rising faster than East Midlands average

The ​boost ​contributes to the longer-term trend, which has seen property prices in the area ​achieve 7.9 per cent annual growth​.

Land Registry figures show the average High Peak house price in August was £210,668​ – a 1.8 per cent increase on July.

Over the month, the picture was ​better than that across the East Midlands, where prices ​increased 0.6 per cent​, and High Peak outperformed the 0.7 per cent rise for the UK as a whole.

Over the last year, the average sale price of property in High Peak ​​rose by £15,000 – putting the ​area fifth among the East Midlands’s 40 local authorities for annual growth.

​The best annual growth in the region was in Derbyshire Dales, where properties increased on average by 11.9 per cent, to £288,000.

At the other end of the scale, properties in South Kesteven dropped 0.9 per cent in value, giving an average price of £219,000.

Owners of detached houses saw the biggest improvement in property prices in High Peak in August – they increased 1.8 per cent to £354,505 on average. Owners of flats also saw a strong rise in the value of their properties, up 1.1 to an average price of £126,215.

First-time buyers in High Peak spent an average of £​173,000 on their property – ​£12,000 more than a year ago, ​and ​£34,000 more than in August 2015.

By comparison, former owner-occupiers paid £​241,000 on average in August​ – 39.9 per cent more than first-time buyers.