House prices in the East Riding increased slightly in September, new figures show
House prices increased slightly, by 0.8%, across the East Riding in September, new figures show.
The boost contributes to the longer-term trend, which has seen property prices in the area achieve 11.1% annual growth.
The average house price in September was £205,134, Land Registry figures show – a 0.8% increase on August.
Over the month, the picture was less good than that across Yorkshire and The Humber, where prices increased 4%, and the East Riding underperformed compared to the 2.5% rise for the UK as a whole.
Over the last year, the average sale price of property in the East Riding rose by £21,000 – putting the area fifth among Yorkshire and The Humber’s 24 local authorities for annual growth.
The best annual growth in the region was in Wakefield, where property prices increased on average by 15.9%, to £179,000. At the other end of the scale, properties in Harrogate gained 1% in value, giving an average price of £292,000.
Owners of detached houses saw the biggest improvement in property prices in the East Riding of Yorkshire in September – they increased 1.1%, to £303,386 on average. Over the last year, prices rose by 12.3%.
Among other types of property:
○ Semi-detached: up 0.7% monthly; up 11.2% annually; £190,674 average
○ Terraced: up 0.5% monthly; up 10.2% annually; £151,906 average
○ Flats: up 0.1% monthly; up 6.6% annually; £103,459 average
First-time buyers in the East Riding of Yorkshire spent an average of £169,000 on their property – £17,000 more than a year ago, and £31,000 more than in September 2016.
By comparison, former owner-occupiers paid £230,000 on average in September – 36.4% more than first-time buyers.
Buyers paid 6.6% more than the average price in Yorkshire and The Humber (£192,000) in September for a property in the East Riding of Yorkshire.
Across Yorkshire and The Humber, property prices are low compared to those across the UK, where the average cost £270,000.