North Lincolnshire house prices dropped more than Yorkshire and Humber average in May

House prices dropped by 0.9% – more than the average for Yorkshire and the Humber – in North Lincolnshire in May, new figures show.

But the drop does not reverse the longer-term trend, which has seen property prices in the area grow by 3.8% over the last year.

The average North Lincolnshire house price in May was £184,853, Land Registry figures show – a 0.9% decrease on April.

Over the month, the picture was different to that across Yorkshire and the Humber, where prices decreased 0.4%, and North Lincolnshire was lower than the UK as a whole, where prices did not change.

Over the last year, the average sale price of property in North Lincolnshire rose by £6,700 – putting the area sixth among Yorkshire and the Humber’s 15 local authorities with price data for annual growth.

The highest annual growth in the region was in Wakefield, where property prices increased on average by 6.2%, to £199,000. At the other end of the scale, properties in Rotherham gained 1% in value, giving an average price of £175,000.

First steps on the property ladder

First-time buyers in North Lincolnshire spent an average of £156,700 on their property – £5,500 more than a year ago, and £36,100 more than in May 2018.

By comparison, former owner-occupiers paid £209,500 on average in May – 33.7% more than first-time buyers.

Property types

Owners of detached houses saw the biggest fall in property prices in North Lincolnshire in May – they dropped 1% in price, to £251,733 on average. But over the last year, prices rose by 4.1%.

Among other types of property:

How do property prices in North Lincolnshire compare?

Buyers paid 9.6% less than the average price in Yorkshire and the Humber (£205,000) in May 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 £286,000.

The most expensive properties in Yorkshire and the Humber were in York – £319,000 on average, and 1.7 times the price as in North Lincolnshire. York properties cost 2.4 times the price as homes in Hull (£135,000 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 May

• North Lincolnshire: £184,853
• Yorkshire and the Humber:£204,588
• UK: £285,861

Annual growth to May

• North Lincolnshire: +3.8%
• Yorkshire and the Humber: +1.2%
• UK: +1.9%

Highest and lowest annual growth in Yorkshire and the Humber

• Wakefield: +6.2%
• Rotherham: +1%