House prices across the East Riding increased slightly during July, new figures show

House prices increased slightly, by 0.6%, in the East Riding in July, new figures show.

Wednesday, 15th September 2021, 2:15 pm
The average East Riding house price in July was £202,552, Land Registry figures show. Photo: PA Images

The boost contributes to the longer-term trend, which has seen property prices in the area achieve 9.9% annual growth.

The average house price in July was £202,552, Land Registry figures show – a 0.6% increase on June.

Over the month, the picture was better than that across Yorkshire and The Humber, where prices decreased 6.8%, and the East Riding outperformed the 3.7% drop for the UK as a whole.

Over the last year, the average sale price of property in the East Riding rose by £18,000 – putting the area 16th 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 21.4%, to £254,000.

At the other end of the scale, properties in Hull gained 4.4% in value, giving an average price of £121,000.

First-time buyers in the East Riding spent an average of £167,000 on their property – £15,000 more than a year ago, and £31,000 more than in July 2016.

By comparison, former owner-occupiers paid £227,000 on average in July – 35.9% more than first-time buyers.

Winners and Losers

Owners of flats saw the biggest improvement in property prices across the East Riding in July – they increased 1.3%, to £104,377 on average. Over the last year, prices rose by 6%.

Among other types of property:

Detached: up 0.2% monthly; up 10.9% annually; £297,895 average

Semi-detached: up 0.9% monthly; up 9.6% annually; £187,889 average

Terraced: up 0.6% monthly; up 9.7% annually; £151,190 average

The most expensive properties in Yorkshire and The Humber were in Harrogate – £312,000 on average.