North Lincolnshire house prices increased slightly in June

House prices increased slightly, by 0.8%, 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 8.7% over the last year.

The average North Lincolnshire house price in June was £182,451, Land Registry figures show – a 0.8% increase on May.

Over the month, the picture was different to that across Yorkshire and the Humber, where prices decreased 0.4%, but North Lincolnshire was lower than the 1% rise for the UK as a whole.

Over the last year, the average sale price of property in North Lincolnshire rose by £15,000 – putting the area 15th among Yorkshire and the Humber’s 21 local authorities with price data for annual growth.

The highest annual growth in the region was in Selby, where property prices increased on average by 16.6%, to £258,000. At the other end of the scale, properties in Calderdale gained 5% in value, giving an average price of £176,000.

An imbalance between supply and demand for properties has remained the primary reason behind climbing house prices across the UK throughout the pandemic.

But activity is starting to slow, with soaring inflation putting household budgets under pressure.

First steps on the property ladder

First-time buyers in North Lincolnshire spent an average of £155,000 on their property – £12,000 more than a year ago, and £38,000 more than in June 2017.

By comparison, former owner-occupiers paid £206,000 on average in June – 32.9% 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 1.4%, to £130,428 on average. Over the last year, prices rose by 7.8%.

Among other types of property:

Detached: up 0.3% monthly; up 8.9% annually; £246,571 averageSemi-detached: up 1.1% monthly; up 9.1% annually; £157,480 averageFlats: up 1% monthly; up 3.6% annually; £79,003 average

How do property prices in North Lincolnshire compare?

Buyers paid 10.6% less than the average price in Yorkshire and the Humber (£204,000) in June for a property in North Lincolnshire. Across Yorkshire and the Humber, property prices are lower than those across the UK, where the average cost £286,000.

The most expensive properties in Yorkshire and the Humber were in Harrogate – £333,000 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 (£135,000 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 June

North Lincolnshire: £182,451Yorkshire and the Humber:£203,973UK: £286,397

Annual growth to June

North Lincolnshire: +8.7%Yorkshire and the Humber: +4.2%UK: +7.8%

Highest and lowest annual growth in Yorkshire and the Humber

Selby: +16.6%Calderdale: +5%