North Lincolnshire house prices dropped in July

House prices dropped by 1.7% in North Lincolnshire in July, new figures show.

But the drop does not reverse the longer-term trend, which has seen property prices in the area grow by 2% over the last year.

The average North Lincolnshire house price in July was £186,120, Land Registry figures show – a 1.7% decrease on June.

Over the month, the picture was different to that across Yorkshire and the Humber, where prices increased 1.5%, and North Lincolnshire was lower than 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 £3,600 – putting the area eighth among Yorkshire and the Humber’s 15 local authorities with price data for annual growth.

The highest annual growth in the region was in Calderdale, where property prices increased on average by 7.8%, to £188,000. At the other end of the scale, properties in North East Lincolnshire lost 2.4% of their value, giving an average price of £150,000.

First steps on the property ladder

First-time buyers in North Lincolnshire spent an average of £157,800 on their property – £2,600 more than a year ago, and £35,700 more than in July 2018.

By comparison, former owner-occupiers paid £211,000 on average in July – 33.7% more than first-time buyers.

Property types

Owners of flats saw the biggest fall in property prices in North Lincolnshire in July – they dropped 2.3% in price, to £79,510 on average. Over the last year, prices dropped by 0.1%.

Among other types of property:

• Detached: down 1.7% monthly; up 2.6% annually; £252,937 average
• Semi-detached: down 1.8% monthly; up 1.8% annually; £160,326 average
• Terraced: down 1.6% monthly; up 1% annually; £131,880 average

How do property prices in North Lincolnshire compare?

Buyers paid 12.5% less than the average price in Yorkshire and the Humber (£213,000) in July for a property in North Lincolnshire. Across Yorkshire and the Humber, property prices are low compared to those across the UK, where the average cost is £290,000.

The most expensive properties in Yorkshire and the Humber were in York – £325,000 on average, and 1.7 times the price as in North Lincolnshire. York properties cost 2.3 times the price as homes in Hull (£139,000 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 July

• North Lincolnshire: £186,120
• Yorkshire and the Humber:£212,730
• UK: £289,824

Annual growth to July

• North Lincolnshire: +2%
• Yorkshire and the Humber: +2.5%
• UK: +0.6%

Highest and lowest annual growth in Yorkshire and the Humber

• Calderdale: +7.8%
• North East Lincolnshire: -2.4%