North East Lincolnshire house prices held steady in March

House prices remained steady in North East Lincolnshire in March, new figures show.

The lack of movement maintains the longer-term trend, which has seen property prices in the area grow by 2.1% over the last year – though still the lowest in Yorkshire and the Humber.

The average North East Lincolnshire house price in March was £148,307, Land Registry figures show – largely unchanged from February.

Over the month, the picture was different to that across Yorkshire and the Humber, where prices decreased 2.1%, and North East Lincolnshire was above the 1.2% drop for the UK as a whole.

Over the last year, the average sale price of property in North East Lincolnshire rose by £3,000 – putting the area bottom among Yorkshire and the Humber’s 15 local authorities with price data for annual growth.

The highest annual growth in the region was in York, where property prices increased on average by 10.9%, to £327,000.

First steps on the property ladder

First-time buyers in North East Lincolnshire spent an average of £132,300 on their property – £2,500 more than a year ago, and £29,000 more than in March 2018.

By comparison, former owner-occupiers paid £165,300 on average in March – 24.9% more than first-time buyers.

Property types

Owners of terraced houses saw the biggest fall in property prices North East Lincolnshire in March – they dropped 0.7% in price, to £110,353 on average. But over the last year, prices rose by 1.5%.

Among other types of property:

• Detached: up 0.7% monthly; up 2.9% annually; £240,469 average
• Semi-detached: up 0.2% monthly; up 2.4% annually; £152,233 average
• Flats: down 0.1% monthly; down 0.1% annually; £74,265 average

How do property prices in North East Lincolnshire compare?

Buyers paid 27.2% less than the average price in Yorkshire and the Humber (£204,000) in March for a property in North East Lincolnshire. Across Yorkshire and the Humber, property prices are low compared to those across the UK, where the average cost £285,000.

The most expensive properties in Yorkshire and the Humber were in York – £327,000 on average, and 2.2 times as much as more than in North East Lincolnshire. York properties cost 2.4 times as much as homes in Hull (£134,000 average), at the other end of the scale.

The highest property prices across the UK were in E09000020.

Factfile

Average property price in March

• North East Lincolnshire: £148,307
• Yorkshire and the Humber:£203,635
• UK: £285,009

Annual growth to March

• North East Lincolnshire: +2.1%
• Yorkshire and the Humber: +4.1%
• UK: +4.1%

Highest and lowest annual growth in Yorkshire and the Humber

• York: +10.9%
• North East Lincolnshire: +2.1%