Yorkshire & The Humber property market far outperforming wider UK
A new play area at Maes Hafod, Ruthin
Property prices across Yorkshire & The Humber are outstripping the rest of the UK by a strong margin, led by Bradford, Kirklees and Wakefield.
Lomond, who analysed data in the region from the latest Gov UK House Price Index, found that in August (latest available – released 16th October) the average house price across Yorkshire & The Humber increased by 4.4% versus the same period the year before.
Bradford is leading the charge across the region, with the average house price increasing by 7.2% year on year.
Across Kirklees, the average house price is up 6.1% annually, whilst Wakefield (+5.8%), Rotherham (+4.8%) and Leeds (+4.6%) have also seen some of the strongest annual rates of growth.
In fact, house prices are up across every local authority in the region except one.
The average house price across North Lincolnshire has fallen by -0.6% over the last year, albeit the decline is marginal, to say the least.
Martin Elliott CEO of Lomond’s Yorkshire brands, Linley & Simpson, Dale Eddison and Hardisty & Co, commented:
“The Yorkshire property market has been performing very strongly over the last year and the region has far outperformed the wider UK benchmark, with a number of local authorities posting very impressive rates of house price growth.
This is largely down to the fact that higher interest rates haven’t dampened buyer appetites to the same extent, with the more affordable house prices in the region also helping to entice buyers.
What’s perhaps most impressive is that just one local authority across the region has seen an annual drop in house prices which really demonstrates the strength of the market at present.
For those thinking of selling across Yorkshire, now is certainly the time.”
Data tables and sources
