Huge Increase in Nottingham House Prices
As we enter 2020 we take a look at how house prices have increased over the last decade.
UK House Prices
London property prices saw the biggest increase. Prices rose by over 72 per cent! This was more than double the UK average. As we enter the new decade, prices are beginning to fall slightly, back in line with the rest of the country.
The UK wide average house price increased by 27 per cent over the last 10 years which equates to £47,647. The overall average UK property price now stands at £233,00.
Nottingham House Prices
Regionally, house prices in Nottingham and the East Midlands increased by 37.2 per cent from 2009-2019. The average price in the East Midlands is now £216,600.
The highest price growth across the county was in Corby. House prices increased by 65 per cent! The lowest increase was West Lindsey at just 22 per cent.
Ruddington House Prices
The average Ruddington house price is currently £289,532. The majority of house sales in the Ruddington area were semi-detached properties. These sold for an average price of £246,704.
Detached properties sold for an average price of £447,512.
The next decade
Over the next five years, prices are predicted to rise by another 15.3 per cent. This means that the average Ruddington house price could reach £333,830.
The East Midlands as a whole should grow even more, by 18.2 per cent.
Find out how much your property is worth
Benwell Daykin are your local, professional estate agents in Ruddington. We provide property sales, lettings and mortgage advice across the whole of Nottinghamshire.