Newark Ranked In Top 10 For House Price Growth
The town of Newark-on-Trent was ranked in the top 10 for house price growth in the UK. In the 2021 national rankings, the Nottinghamshire town took second place, beaten only by Taunton in Somerset. Newark saw an increase of 20% in house prices, just 1.8% less than Taunton.
Newark wasn’t the only town in the East Midlands to appear in the top 20. Kettering in Northamptonshire and Spalding in Lincolnshire both made it into the table, 13th and 16th respectively. The data was published by Halifax and reported by the NottinghamshireLive news site.
What does this mean for people living in Newark?
An increase in house prices usually correlates to a good standard of living – in other words, this town is seen as a desirable place to live.
The average house price in Newark jumped by an incredible £46,732 throughout 2021. This means that if you already own a home in Newark, the value of your property may have gone up. This is great news if you’re looking to sell up. If you’re looking to buy in the area with investment in mind, you should pay attention to the property market trends to see if now really is a good time to buy.
This dramatic incline is in line with national property-buying trends, which saw home buyers increasingly looking to move outside of city centres and into quieter suburbs or outlying towns. Newark is a well connected place, ideal for commuters. It’s a stone’s throw away from the A1, a short journey from both Nottingham and Lincoln, and has access to two major train lines.
Back in 2020, Newark also made it in the top 50 places to live in the UK in the annual Halifax report.