Northampton house prices increased from May to June this year, according to new data

House prices increased by 1.6 percent in Northampton in June, new figures show.

The boost contributes to the longer-term trend, which has seen property prices in the area achieve 8.5 percent annual growth.

The average Northampton house price in June was £232,577, Land Registry figures show – a 1.6 percent increase on May.

Over the month, the picture was less good than that across the East Midlands, where prices increased 5.1 percent, and Northampton underperformed compared to the 4.5 percent rise for the UK as a whole.

Over the last year, the average sale price of property in Northampton rose by £18,000 – putting the area 37th among the East Midlands’s 45 local authorities for annual growth.

The best annual growth in the region was in Derbyshire Dales, where property prices increased on average by 24.7 percent, to £319,000. At the other end of the scale, properties in South Kesteven gained 4.2 percent in value, giving an average price of £230,000.

Winners and Losers

Owners of terraced houses saw the biggest improvement in property prices in Northampton in June – they increased 1.7 percent, to £198,443 on average. Over the last year, prices rose by 9.4 percent.

Among other types of property:

Detached: up 1.6 percent monthly; up 8.8 percent annually; £399,823 average

Semi-detached: up 1.6 percent monthly; up eight percent annually; £239,586 average

Flats: up 1.2 percent monthly; up 6.4 percent annually; £134,436 average

First steps on the property ladder

First-time buyers in Northampton spent an average of £206,000 on their property – £16,000 more than a year ago, and £39,000 more than in June 2016.

By comparison, former owner-occupiers paid £257,000 on average in June – 25.0% more than first-time buyers.

How do property prices in Northampton compare?

Buyers paid 2.5 percent more than the average price in the East Midlands (£227,000) in June for a property in Northampton. Across the East Midlands, property prices are lower than those across the UK, where the average cost £266,000.

The most expensive properties in the East Midlands were in South Northamptonshire – £342,000 on average, and 1.5 times as much as in Northampton. South Northamptonshire properties cost 2.3 times as much as homes in Bolsover (£147,000 average), at the other end of the scale.

The highest property prices across the UK were in Kensington and Chelsea, where the average June sale price of £1.2 million could buy 13 properties in Burnley (average £99,000).

Factfile

Average property price in June

Northampton: £232,577

The East Midlands: £226,846

UK: £265,668

Annual growth to June

Northampton: +8.5 percent

The East Midlands: +14.3 percent

UK: +13.2 percent

Best and worst annual growth in the East Midlands

Derbyshire Dales: +24.7 percent

South Kesteven: +4.2 percent