North Lincolnshire house prices increased more than Yorkshire and Humber average in August
House prices increased by 2.4% – more than the average for Yorkshire and the Humber – in North Lincolnshire in August, new figures show.
The rise contributes to the longer-term trend, which has seen property prices in the area grow by 2.2% over the last year.
The average North Lincolnshire house price in August was £189,563, Land Registry figures show – a 2.4% increase on July.
Over the month, the picture was different to that across Yorkshire and the Humber, where prices increased 0.4%, and North Lincolnshire was above the 0.3% rise for the UK as a whole.
Over the last year, the average sale price of property in North Lincolnshire rose by £4,100 – putting the area 10th 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 6.6%, to £189,000. At the other end of the scale, properties in North East Lincolnshire lost 1.7% of their value, giving an average price of £153,000.
First steps on the property ladder
First-time buyers in North Lincolnshire spent an average of £160,800 on their property – £3,200 more than a year ago, and £34,200 more than in August 2018.
By comparison, former owner-occupiers paid £214,800 on average in August – 33.6% more than first-time buyers.
Owners of semi-detached houses saw the biggest rise in property prices in North Lincolnshire in August – they increased 2.5%, to £163,544 on average. Over the last year, prices rose by 2.2%.
Among other types of property:
- Detached: up 2.3% monthly; up 2.7% annually; £257,309 average
- Terraced: up 2.3% monthly; up 1.1% annually; £134,278 average
- Flats: up 1.6% monthly; up 0.1% annually; £80,620 average
How do property prices in North Lincolnshire compare?
Buyers paid 11.1% less than the average price in Yorkshire and the Humber (£213,000) in August 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 £291,000.
The most expensive properties in Yorkshire and the Humber were in York – £333,000 on average, and 1.8 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 (£1.4 million).
Average property price in August
- North Lincolnshire: £189,563
- Yorkshire and the Humber:£213,264
- UK: £291,044
Annual growth to August
- North Lincolnshire: +2.2%
- Yorkshire and the Humber: +2.2%
- UK: +0.2%
Highest and lowest annual growth in Yorkshire and the Humber
- Calderdale: +6.6%
- North East Lincolnshire: -1.7%