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Latest average house prices in Chesterfield bucked the national trend by increasing in the latest figures – despite the UK market seeing home values fall overall.

House prices increased by 0.6% – more than the average for the East Midlands – in Chesterfield in November, new figures show. The rise contributes to the longer-term trend, which has seen property prices in the area grow by 8.9% over the last year. The average Chesterfield house price in November was £201,361, Land Registry figures show – a 0.6% increase on October.

Over the month, Chesterfield fared much better than the East Midlands, where prices increased by only 0.2%, and Chesterfield bucked the national trend which saw a 0.3% drop for the UK as a whole.

Over the last year, the average sale price of property in Chesterfield rose by £16,000 – putting the area 31st among the East Midlands’s 35 local authorities with price data for annual growth.

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The highest annual growth in the region was in Mansfield, where property prices increased on average by 17.7%, to £190,000. At the other end of the scale, properties in Rutland gained 6.9% in value, giving an average price of £373,000.

The average UK house price edged down to £295,000 in November 2022, from the previous month's record high of £296,000.

Property prices increased by 10.3% in the year to November, slowing from 12.4% in October.

Nathan Emerson, CEO of Propertymark, which represents estate agents, said: "In November, our agents reported a market that was on the cusp of seeing purchasing power handed back to buyers which was a trend we hadn’t seen in months."

And Roger Evans, director of home finance distribution at Gatehouse Bank, said: “The property market is slowly becoming more favourable for buyers in some areas as rates stabilise a little following the turbulence of 2022.”

For those getting their first foot on the property ladder, first-time buyers in Chesterfield spent an average of £170,000 on their property – £14,000 more than a year ago, and £41,000 more than in November 2017.

By comparison, former owner-occupiers paid £228,000 on average in November – 34.1% more than first-time buyers.

Chesterfield bucks national trend to see house prices rise – despite UK fall