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

General view of estate agents signs outside a block of flats in Basingstoke, Hampshire.

House prices increased by 2.5% – more than the average for Yorkshire and the Humber – in North East 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% over the last year.

The average North East Lincolnshire house price in June was £154,812, Land Registry figures show – a 2.5% increase on May.

Over the month, the picture was similar to that across Yorkshire and the Humber, where prices increased 2.1%, and North East 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 East Lincolnshire rose by £5,900 – putting the area fifth 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 East Lincolnshire spent an average of £138,100 on their property – £5,000 more than a year ago, and £30,900 more than in June 2018.

By comparison, former owner-occupiers paid £172,500 on average in June – 25% more than first-time buyers.

Property types

Owners of terraced houses saw the biggest rise in property prices in North East Lincolnshire in June – they increased 2.7%, to £115,114 on average. Over the last year, prices rose by 2.9%.

Among other types of property:

Detached: up 2.1% monthly; up 4.9% annually; £250,033 average
Semi-detached: up 2.4% monthly; up 4.5% annually; £159,341 average
Flats: up 2.5% monthly; up 2.6% annually; £77,547 average

How do property prices in North East Lincolnshire compare?

Buyers paid 25.9% less than the average price in Yorkshire and the Humber (£209,000) in June 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 is £288,000.

The most expensive properties in Yorkshire and the Humber were in York – £324,000 on average, and 2.1 times the price as in North East 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 East Lincolnshire: £154,812
Yorkshire and the Humber:£208,867
UK: £287,546

Annual growth to June

North East Lincolnshire: +4%
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%