January 28, 2015

Derbyshire town named as a UK property ‘hot spot’ as house sales boom

Alfreton’s good road links and surrounding countryside are making it increasingly popular with home buyers.

A DERBYSHIRE town has been identified as a property “hot spot” after recording the second-highest number of house sales anywhere in England and Wales last year.

According to the latest Lloyds Bank property sales report, published today, Alfreton saw one of the highest increases in transactions in the first 10 months of 2014.

The report said that, compared to the same period in 2013, house sales grew by 53%. This was second only to Daventry, in Northamptonshire, where sales increased by 56%.

The Lloyds report tracks home sales movements across England and Wales. It is based on Land Registry data and covers 400 postal towns and London boroughs.

The report said: “Four towns recorded a 50% or more increase in sales between 2013 and 2014, with the biggest rises in Daventry (56%) and Alfreton (53%).

“Both towns are in the East Midlands, with the region accounting for four of the ten towns recording the largest sales rises.”

Overall, Lloyds found that property sales across England and Wales were 21% higher in 2014 compared to the previous year– the highest since 2007, before the recession hit. All the regions saw rises, with the East Midlands leading the way with 26%, followed by the West Midlands at 25%.

Andy Hulme, mortgages director at Lloyds Bank, said: “The recovery in the housing market continued in 2014, with sales rising further in almost all areas of the country.

“Low interest rates, improvements in the UK economy and Government schemes such as Help to Buy, all appear to have contributed to the rise in home sales. Despite these improvements, sales both nationally and regionally are still significantly below their pre-recession levels.”

Residential property expert Chris Brown, a director at Derby-based Sowter and Brown, said: “I have for some time thought that Alfreton is seriously underrated as a place to live.

“It is definitely a place on the up. Viewed by an outsider, the road communications are excellent, the town itself is more than adequate and the surrounding countryside is great for walking, with good stone-built Derbyshire pubs.

“Local schooling is good and employment is solid. In the Alfreton area you can buy a less expensive house offering larger accommodation at an affordable price– and that is why it’s the place where more sales are going through.”

Yesterday, Graham Penny Auctions held its first sale of the year at the iPro Stadium– with a number of Alfreton properties among the lots.

Director John Fearnehough said: “One property in the Alfreton area had a starting price of £65,000 and made £92,000. Another listed at £68,000 went for £94,000.”

“There was a lot of interest in both and although they made good money, in comparison to other areas, they still represent good value. I think that is why Alfreton is proving so popular.”