North Lincolnshire house prices increased in June

House prices increased by 2% in North Lincolnshire in June, new figures show.

The rise contributes to the longer-term trend, which has seen property prices in the area grow by 4.6% over the last year.

The average North Lincolnshire house price in June was £187,723, Land Registry figures show – a 2% increase on May.

Over the month, the picture was similar to that across Yorkshire and the Humber, where prices increased 2.1%, but North Lincolnshire was above the 0.7% rise for the UK as a whole.

Over the last year, the average sale price of property in North Lincolnshire rose by £8,300 – putting the area third among Yorkshire and the Humber’s 15 local authorities with price data for annual growth.

The highest annual growth in the region was in Calderdale, where property prices increased on average by 8.3%, to £185,000. At the other end of the scale, properties in Bradford gained 0.2% in value, giving an average price of £169,000.

First steps on the property ladder

First-time buyers in North Lincolnshire spent an average of £159,200 on their property – £6,700 more than a year ago, and £37,800 more than in June 2018.

By comparison, former owner-occupiers paid £212,700 on average in June – 33.7% more than first-time buyers.

Property types

Owners of terraced houses saw the biggest rise in property prices in North Lincolnshire in June – they increased 2.3%, to £132,475 on average. Over the last year, prices rose by 3.5%.

Among other types of property:

• Detached: up 1.7% monthly; up 4.9% annually; £254,838 average
• Semi-detached: up 2% monthly; up 4.8% annually; £162,021 average
• Flats: up 2% monthly; up 3.1% annually; £80,701 average

How do property prices in North Lincolnshire compare?

Buyers paid 10.1% less than the average price in Yorkshire and the Humber (£209,000) in June for a property in North Lincolnshire. Across Yorkshire and the Humber, property prices are low compared to those across the UK, where the average cost is £288,000.

The most expensive properties in Yorkshire and the Humber were in York – £324,000 on average, and 1.7 times the price as in North Lincolnshire. York properties cost 2.4 times the price as homes in Hull (£138,000 average), at the other end of the scale.

The highest property prices across the UK were in Kensington and Chelsea, with an average price of £1.3 million.

Factfile

Average property price in June

• North Lincolnshire: £187,723
• Yorkshire and the Humber:£208,867
• UK: £287,546

Annual growth to June

• North Lincolnshire: +4.6%
• Yorkshire and the Humber: +2.7%
• UK: +1.7%

Highest and lowest annual growth in Yorkshire and the Humber

• Calderdale: +8.3%
• Bradford: +0.2%