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Sudden boom in house prices in Staffordshire and Derbyshire


07-04-2021

 

It's hoped someone on the residential street could have captured the crime on a video doorbell or dash cam

It's hoped someone on the residential street could have captured the crime on a video doorbell or dash cam


Demand for new homes is high in Staffordshire and Derbyshire. (Image: Oli Scarff/Getty Images)
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A sudden and massive boom in house prices has taken place in Staffordshire and Derbyshire.

Property values have gone through the roof across the East and West Midlands since April, according to a respected house price survey.

 

The Nationwide House Price Index shows homes in the West Midlands - which includes Staffordshire - and East Midlands - which includes Derbyshire - are 12.2 per cent more valuable than they were in April.

That means homes in the West and East Midlands are 7.6 per cent and six per cent more valuable than this time last year.

The average house price in the West Midlands is now 218,334, with the equivalent East Midlands figure being 210,753. Across the UK, house prices have risen 10.3 per cent, with an average value of 242, 709 and annual growth of 6.3 per cent.

Robert Gardner, Nationwide's chief economist, said: "Annual house price growth accelerated to 13.4 per cent in June - the highest outturn since November 2004. While the strength is partly due to base effects, with June last year unusually weak due to the first lockdown, the market continues to show significant momentum.


"Indeed, June saw the third consecutive month-on-month rise (0.7 per cent), after taking account of seasonal effects.

"Prices in June were almost five per cent higher than in March.

"Regional data for the three months to June indicates that all parts of the UK saw an acceleration in annual house price growth.

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"Northern Ireland and Wales saw the largest gains, at 14 per cent and 13.4 per cent respectively in the second quarter (April to June, inclusive).

"By contrast Scotland saw the weakest rate of annual growth, at 7.1 per cent, closely followed by London at 7.3 per cent."

www.staffordshire-live.co.uk

 

 

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