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

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

House prices increased by 0.7% – more than the average for Yorkshire and the Humber – in North East Lincolnshire in August, new figures show.

But the rise does not reverse the longer-term trend, which has seen property prices in the area suffer a 1.7% annual decline – the worst in Yorkshire and the Humber.

The average North East Lincolnshire house price in August was £152,928, Land Registry figures show – a 0.7% increase on July.

Over the month, the picture was similar to that across Yorkshire and the Humber, where prices increased 0.4%, and North East Lincolnshire was above the 0.3% rise for the UK as a whole.

Over the last year, the average sale price of property in North East Lincolnshire fell by £2,700 – putting the area bottom 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 6.6%, to £189,000.

First steps on the property ladder

First-time buyers in North East Lincolnshire spent an average of £136,500 on their property – £2,800 less than a year ago, but £26,300 more than in August 2018.

By comparison, former owner-occupiers paid £170,300 on average in August – 24.8% more than first-time buyers.

Property types

Owners of semi-detached houses saw the biggest rise in property prices in North East Lincolnshire in August – they increased 0.8%, to £157,204 on average. Over the last year, prices dropped by 1.3%.

Among other types of property:

Detached: up 0.6% monthly; down 0.5% annually; £246,468 average
Terraced: up 0.6% monthly; down 2.8% annually; £114,104 average
Flats: up 0.2% monthly; down 3.5% annually; £76,038 average

How do property prices in North East Lincolnshire compare?

Buyers paid 28.3% less than the average price in Yorkshire and the Humber (£213,000) in August 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 £291,000.

The most expensive properties in Yorkshire and the Humber were in York – £333,000 on average, and 2.2 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 (£1.4 million).

Factfile

Average property price in August

North East Lincolnshire: £152,928
Yorkshire and the Humber:£213,264
UK: £291,044

Annual change to August

North East Lincolnshire: -1.7%
Yorkshire and the Humber: +2.2%
UK: +0.2%

Highest and lowest annual growth in Yorkshire and the Humber

Calderdale: +6.6%
North East Lincolnshire: -1.7%