Housing prices in Melton

In Melton:

We regularly revise our house prices estimates. UK-level rent estimates for the latest two months, and all house price data, are provisional and subject to revision.

Figures in this article are not seasonally adjusted.

You may also be interested in our recent analysis of which local areas of England and Wales have been most and least exposed to rising mortgage and rent costs during 2023.

Average house price in Melton was £273,000 in August 2024

The provisional average house price in Melton in August 2024 was £273,000. This was higher than the average of £260,000 in August 2023 (revised), a 5.0% rise.

Across the East Midlands, the average house price in August 2024 was £250,000, which was more than a year earlier (£245,000).

Across Great Britain, a home sold for an average of £296,000 in August 2024, which was up from the August 2023 average of £288,000.

In the year to August 2024, the average price for terraced properties in Melton rose by 5.3%, while the average price for flats increased by 1.2%.

For each property type, average prices as of August 2024 in Melton were:

• Detached properties: £377,000
• Semi-detached properties: £252,000
• Terraced properties: £199,000
• Flats and maisonettes: £130,000

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Average private rents rose in Melton

The average monthly private rent in Melton was £759 in September 2024. This was an increase from £644 in September 2023, a 17.9% rise.

Across the East Midlands, the average monthly rent was £840, up from £772 a year earlier.

Across Great Britain, the average rent price in September 2024 was £1,295, which was up from £1,194 in September 2023.

In Melton, the average rent for semi-detached properties rose by 18.2%, while for detached properties, it increased by 17.4%.

Average rent for one bed properties rose by 18.5%, while the average for four-or-more bed properties increased by 15.8%.

By how many bedrooms there are in a property, average rents as of September 2024 in Melton were:

• One bedroom: £522
• Two bedrooms: £685
• Three bedrooms: £845
• Four or more bedrooms: £1,314

Taking the data instead by property type, average rents were:

• Flats and maisonettes: £590
• Terraced properties: £712
• Semi-detached properties: £790
• Detached properties: £1,045

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First-time buyers in Melton paid £229,000 on average in August 2024

The provisional average price paid by first-time buyers was £229,000 in August 2024. This was higher than the revised August 2023 average of £217,000.

In comparison, home-movers in Melton paid an average of £300,000 in August 2024. This was higher than £286,000 a year earlier.

In August 2024, the average price was £280,000 in the East Midlands and £338,000 in Great Britain.

We do not produce figures for first-time buyer prices by type of property. Average house prices by property type for price paid data are available above.

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Average house price for mortgage buyers rose in Melton

The average price of a home bought with a mortgage in Melton was £275,000 in August 2024 (provisional). This was higher than an average of £261,000 in August 2023 (revised).

Across the East Midlands, the average price of a home bought with a mortgage was £256,000, up from £249,000 a year earlier.

Across Great Britain, the average price for buying with a mortage in August 2024 was £305,000, which was up from an average of £296,000 in August 2023.

Our mortgage calculator shows how monthly repayments are changing at local area level, based on the latest house prices and interest rates.

For cash buyers in Melton, the average was £269,000 in August 2024 (provisional), which was up from a revised figure of £259,000 a year earlier.

In August 2024, the average was £239,000 in the East Midlands and £277,000 in Great Britain.

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More data about Melton

Explore more local data for Melton.

More data on the housing market

This article is regularly updated with the most recent rents and house prices information. The full time series for rental prices can be found in our associated data releases. The full time series for house prices can be found in the UK House Price Index reports on gov.uk.

You can also read our most recent Private rent and house prices bulletin.

The methods used to produce the rental prices can be found in the Price Index of Private Rents Quality and Methodology Information. The methods used to produce the house prices can be found in the House Price Index Quality and Methodology Information.

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About this article

The content in this article is generated using semi-automated journalism, based on rules pre-programmed by Office for National Statistics (ONS) staff.

This is a new product in Beta release, intended to improve the accessibility of housing market data at local level. Send us feedback about this page or contact the Housing Market Indices team by emailing hpi@ons.gov.uk.

Articles are not available for Isles of Scilly and City of London, as the survey samples of the resident population are too small.

We will add Northern Ireland data to this tool following the release of more granular private rent price statistics for Northern Ireland, which we aim to do in March 2025.