North Lincolnshire house prices increased more than Yorkshire and Humber average in December

House prices increased by 2.4% – more than the average for Yorkshire and the Humber – in North Lincolnshire in December, new figures show.

The rise contributes to the longer-term trend, which has seen property prices in the area grow by 16% over the last year.

The average North Lincolnshire house price in December was £191,086, Land Registry figures show – a 2.4% increase on November.

Over the month, the picture was different to that across Yorkshire and the Humber, where prices increased 0.6%, and North Lincolnshire was above the 0.4% drop for the UK as a whole.

Over the last year, the average sale price of property in North Lincolnshire rose by £26,000 – putting the area second among Yorkshire and the Humber’s 21 local authorities with price data for annual growth.

The highest annual growth in the region was in Barnsley, where property prices increased on average by 16.2%, to £171,000. At the other end of the scale, properties in Ryedale gained 5.4% in value, giving an average price of £311,000.

The average UK house price was £294,000 in December 2022, which was £26,000 higher than 12 months earlier.

It meant prices increased by 9.8% annually in December, slowing from 10.6% annual growth in November, according to the Office for National Statistics.

First steps on the property ladder

First-time buyers in North Lincolnshire spent an average of £162,000 on their property – £23,000 more than a year ago, and £42,000 more than in December 2017.

By comparison, former owner-occupiers paid £216,000 on average in December – 33.1% more than first-time buyers.

Property types

Owners of flats saw the biggest rise in property prices in North Lincolnshire in December – they increased 2.6%, to £81,462 on average. Over the last year, prices rose by 12.3%.

Among other types of property:

Detached: up 2.4% monthly; up 15.3% annually; £259,118 averageSemi-detached: up 2.5% monthly; up 16.6% annually; £164,769 averageTerraced: up 2.3% monthly; up 17% annually; £135,905 average

How do property prices in North Lincolnshire compare?

Buyers paid 11% less than the average price in Yorkshire and the Humber (£215,000) in December for a property in North Lincolnshire. Across Yorkshire and the Humber, property prices are lower than those across the UK, where the average cost £294,000.

The most expensive properties in Yorkshire and the Humber were in Harrogate – £348,000 on average, and 1.8 times as much as more than in North Lincolnshire. Harrogate properties cost 2.5 times as much as homes in Hull (£139,000 average), at the other end of the scale.

The highest property prices across the UK were in Kensington and Chelsea.

Factfile

Average property price in December

North Lincolnshire: £191,086Yorkshire and the Humber:£214,773UK: £294,329

Annual growth to December

North Lincolnshire: +16%Yorkshire and the Humber: +11.8%UK: +9.8%

Highest and lowest annual growth in Yorkshire and the Humber

Barnsley: +16.2%Ryedale: +5.4%