We all know that buying a home is expensive and with the current cost of living crisis it feels like house prices are continuing to soar out of reach. However, there is a glimmer of hope as six areas of Nottinghamshire have seen a fall in the average house prices between October 2022 and January 2023.
The city of Nottingham has an average house price of £194,080, which has dropped more than £2,000 from £196,964 in October 2022. Whilst the lowest average house price can be found in Mansfield, with a home expected to cost £181,383 in January 2023.
This is down from £188,957 in the months prior. On the other end of the scale, Rushcliffe remains one of the most expensive places to live in the county.
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In January 2023 the average house price in the borough was £357,337, which has dropped almost £5,000 from £361,932 in October 2022. Whilst house prices have also been dropping in the city of Nottingham, Bassetlaw, Gedling and Mansfield, other areas have seen an increase in price.
The average cost of a home in Broxtowe was found to be £257,134 in January, which is almost £10,000 more than the average price of £248,260 determined just a few months earlier in late 2022. Similarly, the average price of a house in Newark and Sherwood is stated as £243,099 which has gone up almost £2,000 from £241,411 in October 2022.
Below Nottinghamshire Live has ranked all areas in Nottinghamshire from the cheapest to most expensive average house price for January 2023.
Rank |
Local Authority |
Average price January 2023 |
Average price October 2022 |
Difference |
| 1 | Mansfield |
£181,383 |
£188,957 |
- £7,574 |
| 2 | Ashfield |
£191,520 |
£195,526 | - £4006 |
| 3 | City of Nottingham |
£194,080 |
£196,964 |
-£2884 |
| 4 | Bassetlaw |
£197,858 |
£204,794 |
- £6936 |
| 5 | Newark and Sherwood |
£243,099 |
£241,411 |
+ £1,688 |
| 6 | Gedling |
£251,621 |
£253,652 |
- £2,031 |
| 7 | Broxtowe |
£257,134 |
£248,260 |
+ £8,874 |
| 8 | Rushcliffe |
£357,337 |
£361,932 |
- £4,595 |
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