The average price increased by almost 30%!
A Nottinghamshire town has been crowned as the UK's property price hotspot, as new data revealed a major jump in asking prices. The average asking prices for homes in Eastwood increased by 29 percent, according to latest figures.
Eastwood is a former coal mining town in the Broxtowe district of Nottinghamshire. It is located 8 miles northwest of Nottingham and 10 miles northeast of Derby - on the border between Nottinghamshire and Derbyshire.New buyers in Eastwood face a 10 percent deposit on average, and monthly mortgage payments of £1,374. This drops to £1,115 per month for those that can afford to put down a 25 percent deposit.
The South East features the most price hotspots within the top 10, however, the North East saw the biggest regional annual growth of 10.3 percent last year. Overall, average asking prices were 5.6 percent higher across Great Britain at the end of 2022 than they were at the same time in 2021. Tim Bannister, Rightmove’s property expert said: “Property prices have risen exceptionally over the last three years. If we compare with December 2019, just before the pandemic started, the average asking price of a home in Great Britain has risen by a staggering 20%.
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