HOUSE PRICES INCREASED BY 2.8%

According to the Office of National Statistics' latest statistics, the average house price increased by 2.8% over the last year.

Local property markets can behave very differently, so the official ONS house prices rise might not be applicable to you.

North East Derbyshire has seen the highest price increases, with a 9.7% increase in the past year.

Property in the rural area, which includes towns near Chesterfield, such as Dronfield and Clay Cross is now being sold for £239,560. This was previously £218,340.

This district is ideal for those who want to live in the countryside, but it also provides easy access to major cities like Sheffield, Derby and Nottingham.

West Dunbartonshire, in Scotland, is the second best performing local authority. Average house prices there have risen by 9.2%.

Property is now selling for £140,080, compared to £128,278 one year ago.

The area includes part of Loch Lomond & The Trossachs National Park but is also within commuting range of Glasgow's city centre. 

Monmouthshire, Wales, has also experienced dramatic increases in house prices. The average home price there increased from £328,853 to £358,450, an increase of 9 percent year-on-year.

Where has the price of houses fallen?

Hamptons research shows that property prices have fallen in coastal areas of England in the past year, especially in August.

The coast is home to eight of the ten areas with the largest price drops over the past year.

Prices in Rutland, East Midlands, fell the most, by 7.8 percent year-on-year, from £405,750 down to £374,160. This represents a loss of an average of £31,590 on the value of a typical home.

Since the pandemic, commuters may not have been as interested in this small county because it only has one train station.

In Dover, the average price of a home has dropped by 6.4%, from £307,450 to £287,680. This is equivalent to a loss of £19,770 on the average house.