Northampton house prices increased slightly in May

​The ​boost ​contributes to the longer-term trend, which has seen property prices in the area ​achieve 0.4% annual growth​.

The average Northampton house price in May was £214,119, Land Registry figures show​ – a 0.1% increase on April.

Over the month, the picture was ​better than that across the East Midlands, where prices ​decreased 0.7%​, but Northampton underperformed compared to the 0.3% rise for the UK as a whole.

Over the last year, the average sale price of property in Northampton ​​rose by £950 – putting the ​area 36th among the East Midlands’s 40 local authorities for annual growth.

​The best annual growth in the region was in Rutland, where properties increased on average by 9%, to £325,000. ​At the other end of the scale, properties in Lincoln dropped 2.2% in value, giving an average price of £154,000.

Winners and Losers

Owners of flats saw the biggest improvement in property prices in Northampton in May – they increased 0.5%, to £127,537 on average– but over the last year, prices dropped by 1.1%.

Among other types of property:

Detached: down 0.1% monthly; up 0.4% annually; £365,049 average

Semi-detached: up 0.2% monthly; up 0.8% annually; £221,363 average

Terraced: down 0.1% monthly; up 0.8% annually; £181,193 average

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First steps on the property ladder

First-time buyers in Northampton spent an average of £​189,800 on their property – ​£740 more than a year ago, ​and ​£41,730 more than in May 2015.

By comparison, former owner-occupiers paid £​236,150 on average in May​ – 24.4% more than first-time buyers.

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How do property prices in Northampton compare?

Buyers paid 8.4% more than the average price in the East Midlands (£198,000) in May for a property in Northampton. Across the East Midlands, property prices are lower than those across the UK, where the average cost £236,000.

The most expensive properties in the East Midlands were in Rutland – £325,000 on average, and 1.5 times as much as in Northampton. Rutland properties cost 2.5 times as much as homes in Bolsover (£130,000 average), at the other end of the scale.

The highest property prices across the UK were in Kensington and Chelsea, where the average May sale price of £1.4 million could buy 16 properties in Burnley (average £88,000).

Factfile

Average property price in May

Northampton: £214,119

The East Midlands: £197,505

UK: £235,673

Annual growth to May

Northampton: +0.4%

The East Midlands: +2.9%

UK: +2.9%

Best and worst annual growth in the East Midlands

Rutland: +9.0%

Lincoln: -2.2%