The property market in Freeby Avenue, Mansfield Woodhouse, Nottinghamshire (NG19 postcode area) presents a dynamic landscape of historical sales, current valuations, and rental opportunities. Based exclusively on the provided source data, this analysis compiles verified information on property types, average prices per square metre, sales frequency, and rental yields. The data indicates a street predominantly characterised by semi-detached homes, with a significant volume of transactions occurring between 2015 and 2022. Current market indicators show a notable disparity between the average estimated property value and the average asking price, suggesting a complex valuation environment for prospective buyers and sellers in this specific locale.
Property Types and Historical Sales Data
Freeby Avenue consists of approximately 23 homes, with the vast majority of transactions and listings involving semi-detached properties. The available sales records detail specific transactions for semi-detached houses, including 3-bedroom and 4-bedroom configurations. A notable outlier in the dataset is a detached property at number 34, a 5-bedroom home sold in 1998.
The historical sales data provides a longitudinal view of price movements on the street. Sales recorded between 1998 and 2022 show a gradual increase in property values over time. For instance, a semi-detached property at number 5 sold for £59,995 in January 2001. By April 2021, a similar semi-detached property at number 4 sold for £175,000. More recent sales include a semi-detached home at number 20, which sold for £230,000 in November 2022. This trajectory illustrates a general upward trend in capital values for properties on Freeby Avenue over the past two decades.
The data also highlights variability in property sizes and their corresponding price per square metre. For example, the semi-detached property at number 30, sold in October 2020 for £250,000, is a larger home of 156 square metres, resulting in a price per square metre of £1,602. In contrast, a smaller semi-detached property at number 18, sold in January 2022 for £145,000, measured 87 square metres, equating to a price per square metre of £1,666. These figures demonstrate how property size influences the overall sale price and the metric used for comparison.
Current Market Valuations and Asking Prices
Current market data for Freeby Avenue presents two distinct valuation figures: the average estimated property value and the average asking price. The average estimated property value for homes on Freeby Avenue is reported as £143,392. This figure is based on an online survey and represents a calculated estimate of current market worth.
In contrast, the average asking price for properties currently listed for sale on Freeby Avenue is significantly higher at £326,849. It is important to note that this average is derived from a very limited number of properties for sale at the time of the data collection, specifically approximately zero properties listed. This low volume of active listings makes the average asking price a less reliable indicator of the broader market trend and may be skewed by the specific characteristics of any single property that might be available.
The source data also references the average price paid by buyers. One section states that the average price paid is £122,000, which is noted as being up by £16,131. This figure is described as being based on approximately one sale in the area over the last three years. Another section compares this to the last five years, where four properties were sold, with buyers paying an average of £125,225. These figures, while presented as "average price paid," appear to be lower than the historical sales data from 2020-2022, which show prices ranging from £145,000 to £250,000. This discrepancy suggests that the "average price paid" figures may be derived from a different or more limited dataset, potentially focusing on a specific time period or property type not fully represented in the detailed sales log.
Price Per Square Metre Analysis
A key metric for comparing property value is the price per square metre. The data provides several reference points for this metric. For the street as a whole, the average price per square metre is stated as £2,132 per square metre (£198 per square foot). This average is calculated based on the sold property prices of the five most recent sales. These recent sales, from 2020 to 2022, show a range of price per square metre figures, from approximately £1,602 to over £2,100, indicating some variation in valuation based on property condition, size, and specific location on the street.
The source data also provides a broader context for the NG19 9 postcode area (Mansfield Woodhouse). The majority of homes in this wider area are reported to be selling for between £1,770 and £2,680 per square metre (£164 and £248 per square foot). The Freeby Avenue average of £2,132 per square metre sits comfortably within this range, suggesting that property values on this specific street are aligned with the broader local market trends for Mansfield Woodhouse.
Sales Frequency and Market Activity
The sales frequency on Freeby Avenue is notably lower than the UK average. The source data indicates that there are approximately 23 homes on the street. Given that, in the UK, people sell their homes on average once every seven years, one might expect about three sales per year on Freeby Avenue. However, the actual recorded activity shows a much slower market. In the last four years, there have been only five property sales on Freeby Avenue, averaging roughly one sale per year. This slower turnover rate could be attributed to various factors, including owner-occupier stability, the specific characteristics of the properties, or broader local market conditions.
The limited number of recent sales (five in the last four years) is a crucial factor in interpreting the market data. With such a small sample size, average prices and price per square metre calculations can be significantly influenced by individual property sales. For example, the sale of a larger, higher-value home could temporarily inflate the average, while the sale of a smaller or less expensive property could lower it. Prospective buyers and sellers should be aware of this volatility when using these averages as a benchmark.
Rental Market Overview
The rental market on Freeby Avenue is also active, though the data provided is less granular than the sales data. The source states that there are approximately 60 properties up for rent in the area, with an average asking rent of £845 per month. This figure is not specific to Freeby Avenue but likely refers to the broader Mansfield Woodhouse area (NG19 9). It is important to distinguish this from the specific property sales data for Freeby Avenue.
No specific rental listings or historical rental data for individual properties on Freeby Avenue are provided in the source material. Therefore, while the average asking rent for the area is known, the actual rental yield for a specific property on Freeby Avenue cannot be calculated from the available information. The average asking rent of £845 per month provides a useful benchmark for the wider locality but should not be assumed to be the exact rent achievable for a property on Freeby Avenue itself.
Comparative Analysis and Market Context
When analysing the property market for Freeby Avenue, it is useful to compare the data with the broader Mansfield Woodhouse area. The average price per square metre on Freeby Avenue (£2,132) is within the typical range for the NG19 9 postcode area (£1,770 to £2,680 per square metre). This suggests that Freeby Avenue is not an outlier in terms of valuation but is a representative street within the local housing stock.
The data also highlights a significant difference between the average estimated value (£143,392) and the average asking price (£326,849). This large gap could indicate several possibilities. It may suggest that the few properties currently listed for sale are atypically large or high-specification homes, thereby commanding a premium asking price. Alternatively, it could reflect a disconnect between seller expectations and current market valuations. The low volume of active listings makes it difficult to draw a definitive conclusion, but the disparity is a notable feature of the current market snapshot.
Data Limitations and Considerations
The analysis is based exclusively on the provided source data, which has certain limitations. The sales data is detailed for specific transactions but does not cover all properties on the street or all years. The "average price paid" figures appear inconsistent with the specific sales log, suggesting potential issues with data sourcing or timeframes. The rental data is for the wider area, not Freeby Avenue specifically.
Furthermore, the data on the number of properties for sale (approximately zero) and the resulting average asking price of £326,849 is based on a very small sample, making it statistically unreliable. The source material also mentions that values have risen by £240 in the last three months, £632 in the last six months, and £7,511 in the last year. However, the basis for these specific incremental increases is not clearly defined in the context of the detailed sales data provided and should be treated as a general market trend indicator rather than a precise calculation for Freeby Avenue.
Conclusion
The property market on Freeby Avenue in Mansfield Woodhouse is characterised by a prevalence of semi-detached homes, a slow sales frequency of approximately one sale per year, and a general upward trend in capital values over the past two decades. Current valuations show a wide range, with a calculated average estimated value of £143,392 contrasting sharply with a high average asking price of £326,849, though the latter is based on minimal active listings. The price per square metre for recent sales averages £2,132, aligning with the broader local market for Mansfield Woodhouse. The rental market in the wider area has an average asking rent of £845 per month. Prospective buyers, sellers, and investors should consider the limited sales volume and data inconsistencies when evaluating this specific street's market position.