Which areas in Lincolnshire and Rutland have seen the biggest house prices increases and decreases?

New figures reveal the parts of Lincolnshire with the biggest house price increases - and the district which has seen a drop.

According to a house price index developed by online estate agent Purplebricks, the average house price in Lincolnshire is up 2% compared to this time last year.

The value of detached, semi-detached and terraced houses has risen although there has been a drop of 0.2% in what the average flat is worth.

Purplebricks says it analyses data from more than 500 parts of the UK to chart the rises and falls in the housing market nationwide.

South Kesteven - which covers the towns of Stamford, Grantham, Bourne and Market Deeping - has seen the biggest rise, with house prices up 4.8% and the average property costing £273,969.

Semi-detached houses in the district, which is popular with commuters, have increased in value the most, at 6.1%, followed by terraced houses at 5.3%.

According to Jason Treadwell, managing director at Newton Fallowell which has branches across the area, asking prices for properties and what they actually sell for differ significantly.

He said: “Properties will sell anywhere from five to six per cent below the asking price to a 16% reduction.

“Sellers are starting to acclimatise to pricing their homes with a more sensible asking price.

“If you reduce it down to a more affordable price people are prepared to offer slightly higher.

“If you price something correctly it will sell, the housing market is no different.”

East Lindsey also had a significant increase in values - with the average home rising by 3.9% since July 2023.

It saw an increase in the average detached (up 3.1%), semi (up 5.6%), terrace home (up 4.6%) and flats (2.1%).

The cost of an average house in Lincoln is up by 2.2% while North Kesteven has seen a rise of 2.7%.

In the borough of Boston, where the average house costs £190,821, there has been a 1.3% increase.

Jason added that in towns and districts where councils invest in the community, it not only encourages tourism but also people wanting to live there.

South Holland is the only district in the county to see house prices go down, with a drop of 3.5% in the past year with an average property selling for £219,945.

Detached homes are worth 4.4% less than this time last year while flats saw a 7.4% dip.

Jason said: “People were very used to having a good level of disposable income but with the cost of everything across the board it’s reduced.

“Mortgage lenders have become less flexible.”

He added: “South Holland has a lot more mainstream workers and employers aren’t able to increase salary rates.

“The cost of living has increased far higher than salaries.”

Across the border, Rutland had the most significant drop in prices for houses and flats.

It saw a decrease in the average detached (down 4.7%), semi (down 2.9%), terrace home (down 3.5%) and flats (4.6%).

Although property values went down by 4.1%, the average cost of a house in the country’s smallest county is £354,210.

Have you tried to sell or buy property? Share your experiences in the comments below.