24 Dec

Building society notes positive signs for east Midlands property

Building society notes positive signs for east Midlands property

Seven months of positive growth demonstrate that optimism has returned to the property buyers of the east Midlands, according to the Nottingham Building Society.

Citing figures from Nottingham Property Services (NPS), the lender revealed that completed house sales in the region have risen by 28.33 per cent in the last month.

The local market has now grown for seven consecutive months and "shows no sign of cooling off", according to NPS operations manager Graham Lang.

He added: "The second half of the year has seen a welcome resurgence in the property market, with all areas of Nottinghamshire, Derbyshire and Lincolnshire reporting improved sales."

The building society named Nottinghamshire areas such as Arnold, Hucknall, Wollaton and West Bridgford, as well as Grantham in Lincolnshire and Ilkeston in Derbyshire, as the current property hotspots.

According to the latest Land Registry index, the average house price in England and Wales stands at £159,546, which represents a 0.6 per cent increase on the previous month.

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