The specialist residential property solicitors at Bray & Bray deal with house sales and purchases from all over the East Midlands and even further afield. However, as a long-standing Leicestershire based firm, we most regularly carry out the conveyancing for clients throughout Leicestershire.
In recent months, we have noticed that house prices are increasing not just across Leicester and Leicestershire, but throughout the East Midlands when people move to or from another local county.
To find out whether our house price predictions were correct, we carried out some research using data from Right Move, which we then compared with the other counties in the East Midlands. The results show that house prices have increased across all counties, which is great news for existing property owners but not necessarily as welcome for first time buyers.
East Midlands house price comparisons
To compare house prices across the East Midlands, we have used data from Right Move, in relation to the following East Midlands counties:
Average semi-detached house prices
The average price of a semi-detached house across each of the counties in the East Midlands, over the last year were:
- Leicestershire – £181,122
- Derbyshire – £152,359
- Nottinghamshire – £148,427
- Lincolnshire – £140,027
- Northamptonshire – £201,751
- Rutland – £251,851
Unsurprisingly, it appears as though the further south the county stretches, the higher the cost of houses. Similarly, house sales of detached properties were most prevalent in Rutland, Northamptonshire, Leicestershire and Lincolnshire, whilst the most common type of property being sold in Nottinghamshire and Derbyshire were semi-detached houses.
How do the other East Midlands counties compare to Leicestershire?
Comparing semi-detached house prices:
- Derbyshire is an average of £28,763 cheaper per house
- Nottinghamshire is an average of £32,695 cheaper per house
- Lincolnshire is an average of £41,095 cheaper per house
- Northamptonshire is an average of £20,629 more expensive per house
- Rutland is an average of £70,729 more expensive per house
How does this compare with house prices from last year?
Again, using data from Right Move from the past year it is clear to see that house prices have all risen across every county in the East Midlands:
- Leicestershire – 4% increase
- Derbyshire – 3% increase
- Nottinghamshire – 5% increase
- Lincolnshire – 4% increase
- Northamptonshire – 4% increase
- Rutland – 7% increase
Selling your house or moving to the East Midlands
Our clients tell us that they use Bray & Bray for conveyancing time and time again, because the job is always done properly, by a qualified residential property expert. If you’re moving house and a good service at a reasonable price is important to you, contact our conveyancing solicitors at any of our offices below: