Property prices in Rutland

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Latest prices in Rutland for Detached properties

The latest figures show that the average price for a Detached property in Rutland has now reached £499,619 as of Feb 2024. This value is based upon the average value of completed property transactions in the month of February.

Average prices for a Detached property have increased substantially over the longer term in Rutland. Back in January 1995, prices for this type of property averaged £91,422 based on sales at the time. Fast forward to January 2024, and averages reached £524,040 - representing a growth of 473.00000000000006% over 29 years.

This substantial monumental percentage rise in Detached property values far outpaced broader inflation over the same period. Rising household incomes, strong local economy, high demand and constrained supply all likely contributed to the steep price inflation seen for Detached homes in Rutland over the past 3 decades.

Our data is sourced directly from HM Land Registry and their UK House Price Index report. This dataset is updated several times a year and we always attempt to have the most up to data information available.

The UK HPI uses sales data collected on residential housing transactions, whether for cash or with a mortgage. Properties have been included in England and Wales since January 1995, in Scotland since January 2004, and in Northern Ireland since January 2005, Data is available at a national and regional level, as well as counties, local authorities and London boroughs.

Cited from HM Land Registry

Detached prices in Rutland over the last 12 months

DatePrice
Mar 2023£501,630
Apr 2023£511,439
May 2023£537,834
Jun 2023£561,739
Jul 2023£586,324
Aug 2023£590,230
Sep 2023£556,448
Oct 2023£545,450
Nov 2023£523,702
Dec 2023£529,132
Jan 2024£524,040
Feb 2024£499,619

Recent trends for prices in Rutland

The latest figures from February 2024 indicate the property market in Rutland continues to show falling price trends. Compared to January, 2024, average prices decreased by -2.8% to £369,416. On an annual basis, average property prices have increased 2.5% since 12 months ago.

In terms of sales activity, there were 30 residential property transactions completed in Rutland during February, 2024. Of these purchases, 4 were financed with a mortgage while 14 were all-cash sales. For cash buyers, average prices have changed by -2.9% since January, 2024, coming in at around £365,337. For properties purchased with a mortgage, the average price changed by -2.8% since January, 2024, to £372,741.

Compared to the overall picture in its national parent England, the average property price in Rutland are higher than the current national average of £297,735. While Rutland saw a change of -2.8% over the last month, England as a whole recorded a percentage change of 0.6% in average property values. And on an annual basis, prices across England have contracted by -1.1%, less than the 2.5% yearly change seen in Rutland.

Interested in purchasing a property in Rutland? Use our Monthly Mortgage Cost Calculator to see how much a property may cost you per month. This tool is for illustrative purposes only and does not constitute financial advice.

Average price in Rutland by housing type

Prices last recorded in February, 2024

average

£369,416

detached

£499,619

flat

£156,829

semi-detached

£313,726

terraced

£269,526

Prices by housing type in Rutland

Recent data shows that price growth has varied across different property types in Rutland over the last year. For terraced houses, property prices changed by -2.7% between February 2024 and January 2024 to reach £269,526, and changed by 2.2% over the last 12 months. The annual change was less than the -1.7% change seen for terraced homes in England overall.

Meanwhile, semi-detached properties saw a fall in average prices locally, taking them to £313,726 in January 2024. This represents a -2.6% change from the same month last year.This is outperforming the 0.2% annual change in semi-detached values across the country.

Detached homes in Rutland lost -3% month-over-month to reach an average of £499,619. Annually, detached property values have changed by 2.5%. This is stronger price growth compared to England's -0.5% change for detached houses over the year.

For apartments and flats, average prices decreased by -3% between February and January 2024, hitting £156,829. Over the last 12 months, apartment values have changed by 0.8%, surpassing England's flat and apartment growth rate of -2.8%.

Overall, semi-detached properties have seen the strongest price momentum locally over the past year, with a change of 3.7%, while flat properties lagged, with a change of 0.8%.

Recent purchases in Rutland

According to data from HM Land Registry, there were 30 completed property purchases in the area of Rutland in February 2024. Of these sales, 14 were recorded as cash purchases whilst 4 were purchased using a mortgage. Compared to this time 12 months ago, the percentage of properties purchased using a mortgage has changed by 2.5% and the percentage of properties purchased with cash has changed by 2.5%.

The number of cash and mortgage purchases may not match the recorded number due to exclusions listed on the gov.uk website

Looking for a specific property type?

Use one of the following links to find more specific information about the type of property you're looking for in rutland.

All property prices in rutland

Semi-Detached property prices in rutland

Terraced property prices in rutland

Flat & Apartment property prices in rutland

First Time Buyer prices in rutland

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