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

House prices increased by 1.7% – more than the average for Yorkshire and the Humber – in North East Lincolnshire in April, new figures show.

The rise contributes to the longer-term trend, which has seen property prices in the area grow by 3.9% over the last year.

The average North East Lincolnshire house price in April was £150,081, Land Registry figures show – a 1.7% increase on March.

Over the month, the picture was different to that across Yorkshire and the Humber, where prices increased 1%, and North East Lincolnshire was above the 0.5% rise for the UK as a whole.

Over the last year, the average sale price of property in North East Lincolnshire rose by £5,700 – putting the area 12th among Yorkshire and the Humber’s 15 local authorities with price data for annual growth.

The highest annual growth in the region was in York, where property prices increased on average by 7.1%, to £322,000. At the other end of the scale, properties in Doncaster gained 2.1% in value, giving an average price of £163,000.

First steps on the property ladder

First-time buyers in North East Lincolnshire spent an average of £133,800 on their property – £4,900 more than a year ago, and £31,300 more than in April 2018.

By comparison, former owner-occupiers paid £167,300 on average in April – 25% more than first-time buyers.

Property types

Owners of flats saw the biggest rise in property prices in North East Lincolnshire in April – they increased 2%, to £75,334 on average. Over the last year, prices rose by 2.1%.

Among other types of property:

• Detached: up 1.9% monthly; up 4.9% annually; £243,381 average
• Semi-detached: up 1.9% monthly; up 4.5% annually; £154,337 average
• Terraced: up 1.4% monthly; up 3.1% annually; £111,450 average

How do property prices in North East Lincolnshire compare?

Buyers paid 27% less than the average price in Yorkshire and the Humber (£206,000) in April 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 £286,000.

The most expensive properties in Yorkshire and the Humber were in York – £322,000 on average, and 2.1 times the price as in North East Lincolnshire. York properties cost 2.4 times the price as homes in Hull (£134,000 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 April

• North East Lincolnshire: £150,081
• Yorkshire and the Humber:£205,523
• UK: £286,489

Annual growth to April

• North East Lincolnshire: +3.9%
• Yorkshire and the Humber: +4%
• UK: +3.5%

Highest and lowest annual growth in Yorkshire and the Humber

• York: +7.1%
• Doncaster: +2.1%