House prices rise across the East Riding

House prices increased slightly in the East Riding in March, new figures show.

By The Newsroom
Thursday, 21st May 2020, 7:00 am
The average house price across East Yorkshire in March was £181,382, Land Registry figures show – a 0.2% increase on February. Photo: PA Images
The average house price across East Yorkshire in March was £181,382, Land Registry figures show – a 0.2% increase on February. Photo: PA Images

The boost contributes to the longer-term trend, which has seen property prices in the area achieve 2.7% annual growth.

The average house price across East Yorkshire in March was £181,382, Land Registry figures show – a 0.2% increase on February.

Over the month, the picture was better than that across Yorkshire and The Humber where prices decreased 3.6%, and the East Riding outperformed the 0.2% drop for the UK as a whole.

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Over the last year, the average sale price of property in the East Riding rose by £4,700 – putting the area eighth among Yorkshire and The Humber’s 21 local authorities for annual growth.

The best annual growth in the region was in Richmondshire, where properties increased on average by 12.3%, to £234,000.

At the other end of the scale, properties in Ryedale dropped 4.5% in value, giving an average price of £229,000.

Owners of detached houses saw the biggest improvement in property prices in the East Riding in March – they increased 0.5%, to £265,704 on average.

Over the last year, prices rose by 2.6%.

Among other types of property:

Semi-detached: up 0.3% monthly; up 3.1% annually; £168,594 average

Terraced: down 0.1% monthly; up 2.8% annually; £134,817 average

Flats: down 0.5% monthly; up 0.3% annually; £96,489 average

First-time buyers in the East Riding of Yorkshire spent an average of £149,700 on their property – £3,700 more than a year ago