North Lincolnshire house prices increased more than Yorkshire and Humber average in February
House prices increased by 2.3% – more than the average for Yorkshire and the Humber – in North Lincolnshire in February, new figures show.
The boost contributes to the longer-term trend, which has seen property prices in the area achieve 8.9% annual growth.
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Hide AdThe average North Lincolnshire house price in February was £175,608, Land Registry figures show – a 2.3% increase on January.
Over the month, the picture was better than that across Yorkshire and the Humber, where prices increased 1.2%, and North Lincolnshire outperformed the 0.5% rise for the UK as a whole.
Over the last year, the average sale price of property in North Lincolnshire rose by £14,000 – putting the area 11th among Yorkshire and the Humber’s 21 local authorities with price data for annual growth.
The best annual growth in the region was in Scarborough, where property prices increased on average by 16.8%, to £213,000. At the other end of the scale, properties in Bradford gained just 5.7% in value, giving an average price of £164,000.
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Hide AdWinners and Losers
Owners of flats saw the biggest improvement in property prices in North Lincolnshire in February – they increased 2.5%, to £76,640 on average. Over the last year, prices rose by 3.8%.
Among other types of property:
Detached: up 2.4% monthly; up 10.1% annually; £239,834 averageSemi-detached: up 2.3% monthly; up 8.5% annually; £150,529 averageTerraced: up 2.2% monthly; up 7.3% annually; £124,090 average
First steps on the property ladder
First-time buyers in North Lincolnshire spent an average of £149,000 on their property – £12,000 more than a year ago, and £36,000 more than in February 2017.
By comparison, former owner-occupiers paid £199,000 on average in February – 34% more than first-time buyers.
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Hide AdHow do property prices in North Lincolnshire compare?
Buyers paid 11.6% less than the average price in Yorkshire and the Humber (£199,000) in February for a property in North Lincolnshire. Across Yorkshire and the Humber, property prices are lower than those across the UK, where the average cost £277,000.
The most expensive properties in Yorkshire and the Humber were in Harrogate – £325,000 on average, and 1.8 times as much as more than in North Lincolnshire. Harrogate properties cost 2.5 times as much as homes in Hull (£128,000 average), at the other end of the scale.
The highest property prices across the UK were in Kensington and Chelsea.
Factfile
Average property price in February
North Lincolnshire: £175,608Yorkshire and the Humber:£198,599UK: £276,755
Annual growth to February
North Lincolnshire: +8.9%Yorkshire and the Humber: +9.5%UK: +10.9%
Best and worst annual growth in Yorkshire and the Humber
Scarborough: +16.8%Bradford: +5.7%