UK house prices are falling but that's not the case in Lincolnshire's East Lindsey district - here's why

Buying a home is a constant talking point for people in the UK - even if it's something we only do once or twice in our lives. We all want to know how much more our home is worth now compared to when we bought it all those years ago. There's also the question of whether our neighbours selling up is driving the value of our homes own too.

It's always of interest so many will be intrigued to know that house prices this year have fallen compared to October 2022 by £.2 percent. That's according to data released in the Halifax House Price Index.

The average house price in the UK is now £281,974 and there is nowhere where prices rose more than in Powys in Wales. Here, prices rise by 17.4 per cent - compared to the biggest leap in England of 13.3 per cent.

That was in Lincolnshire's East Lindsey district which includes the Lincolnshire Wolds and the beaches of Skegness, Mablethorpe, and Sutton-on-Sea. The coastal district is home to around 142,000 residents and is an area frequently visited by tourists from across the East Midlands.

But why are house prices rising so sharply here? Councillor Steve Kirk - who represents the Skegness, Scarbrough & Seacroft ward - said: "I'm surprised the prices of houses are going up that much but they are increasing. We have so many retirees here and a lot of people are coming here from cities. They're moving from areas with higher property value areas and that could be driving up prices here. During Covid, people realised the value of wide open spaces. It wasn't about city life anymore, it was about being in nature."

Another representative of the local community also shared her thoughts on the increased value of homes in the district. Cllr Rosalind Jackson - of the Luth Trinity ward - added: "Here we have an average age of about 52 so yes, it is popular with retirees. Historically, it's been quite a depressed area for house prices though.

"The rising prices are not that surprising though because we are seeing new developments in Louth and people are moving in from down south. This was also the case in the pandemic when people wanted to move out to the coast which increased prices to an extent.

"It's a really lovely place to live if you have a car and if you can afford the property. If you have worked all your life elsewhere and you're selling your property somewhere else, it is attractive in that sense. It is difficult for the long-term residents here because we have people on housing waiting lists and finding them places to live can be difficult."

So what can you buy for your money in East Lindsey? Here are a few properties of different values in the district.

Steadman Court, Horncastle

This two double bedroom end terrace house is near Horncastle town centre. It consists of a dual aspect lounge with a feature display fireplace, a modern fitted kitchen breakfast room and a modern bathroom with a separate shower over the offset bath.

Guide price: £168,000

Mareham Road, Horncastle

Located on the edge of Horncastle and within easy walking distance of the town centre, this new build property will comprise of a four bedroom family home built in natural limestone with a natural slate roof.

Downstairs will comprise a large living room, hall, a large open plan kitchen/diner/family area and separate utility room, a separate shower and WC. A separate access to a home office has been designed and incorporated to facilitate home working.

Guide price: £760,000

The Old Vicarage, Legbourne

A handsome, detached, 5/6-bedroom Victorian Vicarage, secretly positioned in a mature and secluded setting within grounds of around 3.4 acres.

The property was constructed in 1862 for the Reverend John Overton and designed by local architects Rogers & Marsden of Louth. The original building was extended in the late 1800's to the west, creating the superb façade which faces the south lawn. The house has been internally renovated and restyled by the present owners, seamlessly combining contemporary and period lifestyles and colour schemes.

Guide price: £1.4 million