County house prices rise as demand falls across the region

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House prices in Derbyshire have risen by just over four per cent in the space of a year, according to latest figures.

Across the county, the average home was worth £224,220 in June, compared with £215,460 in 2013, according to the Land Registry.

The East Midlands as a whole recorded an average increase of 7.2 per cent in figures released by the Office for National Statistics (ONS) this week.

The ONS index, which is based on completed mortgages showed prices had risen in all regions of the UK since June 2013. The biggest increases were in England, where the average price reached £276,000.

The housing charity Shelter said the increases were another blow for people stuck in rented accommodation.

Its chief executive, Campbell Robb, said: “If we don’t see radical action soon, more and more people will be left without a hope of ever building a stable future in a home of their own.”

Meanwhile, demand for new homes in the region has slowed, according to research.

The latest Residential Market Survey, put together by the Royal Institution of Chartered Surveyors (RICS), also found that the number of new properties coming on to the market decreased last month.

The research said that house price growth in the East Midlands “remained firm” with 65 per cent more respondents reporting an increase in prices last month, compared to 54 per cent in June and 47 percent in May.

But RICS said that mortgage lenders were now “ a little more circumspect” in providing finance.