East Riding house prices dropped slightly in July

The longer term trend saw house prices achieve a 2.3% annual growth.
The longer term trend saw house prices achieve a 2.3% annual growth.

House prices dropped slightly in the East Riding during July, new figures show.

But the drop does not reverse the longer-term trend, which has seen property prices in the area achieve 2.3% annual growth .

The average the East Riding house price in July was £180,796, Land Registry figures show – a 0.6% decrease on June.

Over the month, the picture was worse than that across Yorkshire and The Humber, where prices increased 1.9%, and the East Riding of Yorkshire underperformed compared to the 0.5% rise for the UK as a whole.

Over the last year, the average sale price of property in the East Riding of Yorkshire rose by £4,100 – putting the area 11th among Yorkshire and The Humber’s 21 local authorities for annual growth.

Winners and Losers

○ Owners of detached houses fared worst in July – they dropped 0.8% in price, to £263,499 on average (but over the last year prices rose by 2.3%).

○ Semi-detached homes: down 0.7% monthly; up 2.6% annually; £167,721 average

○ Terraced properties: down 0.4% monthly; up 2.3% annually; £135,163 average

○ Flats: down 0.3% monthly; up 1.4% annually; £98,073 average

○ First-time buyers in the East Riding of Yorkshire spent an average of £ 149,600 on their property – £3,300 more than a year ago, and £25,300 more than in July 2014.

○ By comparison, former owner-occupiers paid £ 202,100 on average in July – 35.1% more than first-time buyers.