House prices across the East Riding increased slightly in August, Land Registry figures show

House prices increased slightly by 0.8% in the East Riding in August, new figures show.

Thursday, 21st October 2021, 2:51 pm
The average house price across the East Riding in August was £204,773, Land Registry figures show.

The boost contributes to the longer-term trend, which has seen property prices in the area achieve 11.7% annual growth.

The average house price in August was £204,773, Land Registry figures show – a 0.8% increase on July.

The picture was less good than that across Yorkshire and The Humber, where prices increased 1.5%, and the East Riding underperformed compared to the 2.9% rise for the UK as a whole.

Over the last year, the average sale price of property in the East Riding rose by £22,000 – putting the area 10th among Yorkshire and The Humber’s 24 local authorities for annual growth.

The best annual growth in the region was in Richmondshire, where property prices increased on average by 20.6%, to £259,000.

At the other end of the scale, properties in Craven gained 5.6% in value, giving an average price of £246,000.

First-time buyers in the East Riding spent an average of £168,000 on their property – £17,000 more than a year ago and £31,000 more than in August 2016 – while former owner-occupiers paid £230,000 on average in the area.