Indeed, what is going on in and around Alexandra Park to make house prices rise by 60 percent?
Well, if you head over to the area you'll see a brand new development that will certainly have impacted on the headline figure.
In NG3 4, the median prices were up from £103,250 in 2015 to £165,000 in 2016. Around the time that Springfield Pastures made an appearance and homes at the new development began to sell. Today only two of the 15 brand new homes remain for sale but at prices of £875,000 and £695,000 for the four and bedroom bedroom homes you can see how the prices will have made an impression on those overall figures.
The next biggest rise was in NG2 3, a postcode that covers a diverse range of areas including Nottingham city centre, Sneinton, The Meadows and West Bridgford. Here prices were up by half (51 percent) in a year, from a median of £86,000 to £129,950. NG8 6 is again a broad postcode that covers Aspley, Wollaton, Whitemoor, Bilborough and Nottingham and this postcode saw prices rise by 29 percent to £124,250.
On the other side of the coin, the area with the biggest drop in prices was NG1 6, where the median price fell 46 percent from £257,500 in 2015 to £140,000 in 2016. Again, in contrast to the other postcode figures, NG1 6 covers only 256 households against a figure of about 4,049 in NG3 4 according to census figures from 2011, so the price difference could reflect the changes in the type of property being sold.
Postcodes which brought up the highest and lowest prices locally won't bring any surprises. NG12 4 had the highest median price locally, at £352,500 - NG12 4 includes Cotgrave, Radcliffe on Trent, Keyworth, and Rushcliffe - while the postcode with the lowest prices was NG7 3, where the median price was £74,500 - New Basford, Forest Frields, Hyson Green, Radford, Lenton and Nottingham - all areas with a good selection of terraced property.
