High Peak house prices dropped in August, latest figures show

The average High Peak house price in August was £260,552, Land Registry figures show – a 0.6% decrease on July.

Over the month, the picture was different to that across the East Midlands, where prices increased 0.6%, and High Peak was lower than the 0.3% rise for the UK as a whole.

Over the last year, the average sale price of property in High Peak rose by £3,900 – putting the area 19th among the East Midlands’s 35 local authorities with price data for annual growth.

The highest annual growth in the region was in Rutland, where property prices increased on average by 13.3%, to £430,000. At the other end of the scale, properties in South Holland lost 4.8% of their value, giving an average price of £232,000.

First-time buyers in High Peak spent an average of £211,900 on their property – £2,400 more than a year ago, and £52,100 more than in August 2018.

By comparison, former owner-occupiers paid £300,600 on average in August – 41.9% more than first-time buyers.

Owners of flats saw the biggest fall in property prices in High Peak in August – they dropped 1.3% in price, to £145,842 on average. But over the last year, prices rose by 0.3%.

Among other types of property the figures show – Detached: down 0.6% monthly; up 2.6% annually; £450,224 average; Semi-detached: down 0.4% monthly; up 2.2% annually; £281,093 average and Terraced: down 0.6% monthly; up 0.6% annually; £207,617 average

Buyers paid 3.9% more than the average price in the East Midlands (£251,000) in August for a property in High Peak. Across the East Midlands, property prices are lower than those across the UK, where the average cost is £291,000.

The most expensive properties in the East Midlands were in Rutland – £430,000 on average, and 1.7 times the price as in High Peak. Rutland properties cost 2.4 times the price as homes in Bolsover (£179,000 average), at the other end of the scale. The highest property prices across the UK were in Kensington and Chelsea (£1.4 million).