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Land Registry Releases House Price Performance

| August 1, 2018

Latest data from the Land Registry has shown that house prices in Yorkshire are faring well compared to the previous year. House prices increased by an average of 2.9 per cent across the county between May 2017 and May 2018.

Richmondshire, towards the north of the county, saw the largest increase with values in the area increasing 8.6 per cent with an average property price from £192,715 to £209,368. The area, which includes the market towns of Richmond and Leyburn, was already abundant with attraction with large parts of the Yorkshire Dales National Park straying within its borders. It is its transport links however, that can be attributed to the boost thanks to the upgraded A1 which allows quicker access to Leeds and Newcastle thanks to its extension to three lanes.

The district of Ryedale also saw a value boost from £211,294 to £229,399 thanks to growing popularity. The beautiful countryside’s of the nearby North York Moors and access to the coast already acted favourably but links to York and Leeds by train and car help it attract commuters.

A surprise increase was Rotherham in South Yorkshire which saw a 7.6 per cent rise which was attributed to higher value homes hitting the market, especially in surrounding suburbs. There are also good increases in Barnsley (5.5 per cent), Calderdale (5.1 per cent), Leeds (4.3 per cent) Scarborough (5.7 per cent), Selby (5.7 per cent) and Sheffield 6.6 per cent).

The only district that lost value was surprisingly York with a reduction of 2.1 per cent. This is a surprise for a city named as the Best Place to Live in Britain by The Sunday Times. But this has been explained as a balance off following a particularly strong 2017.

The most expensive place to by in Yorkshire is Harrogate with an average price of £280,334 and the cheapest is Hull where the average price is at £106,918. The latter could throw up opportunity for buyers looking build upon Hull’s success as UK City of Culture in 2017.

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