Northampton house prices increased slightly in July
The boost contributes to the longer-term trend, which has seen property prices in the area achieve 0.9% annual growth.
The average Northampton house price in July was £215,937, Land Registry figures show – a 0.7% increase on June.
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Hide AdOver the month, the picture was similar to that across the East Midlands, where prices increased 0.8%, but Northampton outperformed the 0.5% rise for the UK as a whole.
Over the last year, the average sale price of property in Northampton rose by £1,900 – putting the area 32nd among the East Midlands’s 40 local authorities for annual growth.
The best annual growth in the region was in High Peak, where properties increased on average by 8.7%, to £209,000. At the other end of the scale, properties in Boston dropped 3.3% in value, giving an average price of £156,000.
Winners and Losers
Owners of flats saw the biggest improvement in property prices in Northampton in July – they increased 1%, to £126,753 on average– but over the last year, prices dropped by 2.4%.
Among other types of property:
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Hide AdDetached: up 0.5% monthly; up 1.2% annually; £368,832 average
Semi-detached: up 0.8% monthly; up 1.9% annually; £224,119 average
Terraced: up 0.7% monthly; up 1.1% annually; £182,863 average
First steps on the property ladder
First-time buyers in Northampton spent an average of £191,100 on their property – £1,300 more than a year ago, and £40,100 more than in July 2015.
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Hide AdBy comparison, former owner-occupiers paid £238,600 on average in July – 24.9% more than first-time buyers.
How do property prices in Northampton compare?
Buyers paid 7.1% more than the average price in the East Midlands (£202,000) in July for a property in Northampton. Across the East Midlands, property prices are lower than those across the UK, where the average cost £238,000.
The most expensive properties in the East Midlands were in Rutland – £329,000 on average, and 1.5 times as much as in Northampton. Rutland properties cost 2.3 times as much as homes in Bolsover (£140,000 average), at the other end of the scale.
The highest property prices across the UK were in Kensington and Chelsea, where the average July sale price of £1.2 million could buy 14 properties in Burnley (average £91,000).
Factfile
Average property price in July
Northampton: £215,937
The East Midlands: £201,608
UK: £237,963
Annual growth to July
Northampton: +0.9%
The East Midlands: +4.2%
UK: +2.3%
Best and worst annual growth in the East Midlands
High Peak: +8.7%
Boston: -3.3%
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