The Land Registry’s latest house price index reveals that average residential property values in Yorkshire rose by 9.8 per cent between December 2021 and December 2022 and showed a monthly increase of 1.8 per cent, bringing the average house price in the region to £196,877.
The average annual rise in England was 10.7 per cent taking the average property price in the country to £293,339. The South West had the greatest annual gain compared to other regions with prices up 13.6 per cent and London had the lowest with 5.5 per cent. Yorkshire’s neighbouring North West saw a 10.2 per cent year-on-year increase while the North East had a 5.9 per cent uplift but recorded England’s most significant monthly fall of -1.5 per cent. It can now boast England’s lowest average house price, which stands at £147,214, which is good news for first-time buyers.
Ryedale, which includes the popular market towns of Malton, Helmsley, Kirkbymoorside, Malton, Norton and Pickering, along with numerous chocolate box villages, saw the greatest increase of all Yorkshire local authority areas with a 15.2 per cent boost to home values. The area has seen an influx of buyers from other parts of the county, along with others who have no connection but are drawn to the country life within easy striking distance of the coast.
The average house price in Ryedale is now £306,570 and in York, which saw a 12.8 per cent annual rise in values, it is now £304,846. This sees Ryedale overtaking York, which had long dominated the top spot.
However, it is the booming spa town of Harrogate that now lays claim to the highest average house price in God’s Own County. It stands at £326,012 after an annual percentage gain of 11.5 per cent. This comes as no surprise to the estate agents operating there. A lack of homes for sale has pushed prices up in most locations and there is a severe supply and demand problem. Estate agents in the town believe the shortage of stock will be alleviated as more sellers decide to put the “For Sale” signs up in order to make a move this spring.
The Scarborough district also had a notably high price rise between December 2020 and December 2021 with a 12.9 per cent uplift bringing the average value to £198,858.
The area includes Whitby, Filey and a host of pretty inland and coastal villages, which have been targeted by those looking to make a move to or near the coast. Buyers have come from all over the UK.
For fantastic value look no further than Hull, which has the admirable claim of being the cheapest place in Yorkshire to buy a home. This proud and much-loved city has much to commend it including an average house price of £125,177 after seeing Yorkshire’s lowest annual rise of 5.8 per cent. For details of average house prices and percentage gains in all Yorkshire local authority areas see the list below.
This week also brought a pleasant surprise for Todmorden, which sits on the border between the white and red rose counties. In Rightmove’s buyer demand hotspot table, “Tod” appeared in fifth place after recording a 101 per cent annual increase in demand when compared with last January. The average asking price there is £214,137 and is up 8.5 per cent year-on-year. Neighbouring Hebden Bridge has long been a Calder Valley property hotspot thanks to its cool, bohemian vibe, independent shops and amenities.
However, Ben Turner, of Anthony J. Turner estate agents, says that Todmorden house prices are now catching up with those in Hebden Bridge.
“I can see why it has become more popular. It is slap bang in the middle between Leeds and Manchester with a trainline to both cities and that line is improving. Those looking to buy in Hebden Bridge often turn their attention to Todmorden because prices here are lower, though they are now creeping up because of that.
“It has a lot to commend it, including a fantastic market that runs five days a week, a leisure centre with a swimming pool and easy access to the beautiful south Pennines. What’s noticeable is that people who move to Todmorden from outside the area tend to stay here and that says a lot.”
Land Registry price increases and average house prices for the year to December 2021: Barnsley 9.7 per cent (£151,937); Bradford 6.2 per cent (£160,969) ; Calderdale 10.8 per cent (£174,323); Hull 5.8 per cent (£125,177); Craven 12.5 per cent (264,921); Doncaster 8.5 per cent (£151,232); East Riding 10 per cent (£214,040); Hambleton 9.4 per cent (£272,521); Harrogate 11.5 per cent (£326,012); Kirklees 7.8 per cent (£177,532); Leeds 8.2 per cent (£221,412); North Yorkshire 12 per cent (£264,378); Richmondshire 9.2 per cent (£246,532); Rotherham 6.5 per cent (£163,716); Ryedale 15.2 per cent (£306,570); Scarborough 12.9 per cent (£198,858); Selby 11.6 per cent (£242,488); Sheffield 9.6 per cent (£197,135); Wakefield 12 per cent (£181,960); York 12.8 per cent (£304,846).