The latest winners and losers in Yorkshire’s housing market

The latest Land Registry house price index shows that Calderdale topped the Yorkshire table in November 2018.
The latest Land Registry house price index shows that Calderdale topped the Yorkshire table in November 2018.
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The latest Land Registry data shows house price performance in Yorkshire’s main towns and cities.

Analysis of the latest Land Registry data shows that Yorkshire suffered the greatest monthly price fall between October and November last year with a drop of 1.3 per cent. The neighbouring North East saw the greatest monthly price rise, up by 1.2 per cent.

However, the annual price rise in Yorkshire, between November 2017 and November 2018, was still in the black at two per cent and the forecast for 2019 is positive with most predictions suggesting a two to three per cent rise.

Wales saw the largest annual price growth with 5.5 per cent, while the West Midlands saw England’s greatest annual gain, up by 4.6 per cent. London had the largest year-on-year fall, down by 0.7 per cent.

Calderdale had the highest house price increases in Yorkshire over the year to November 2018. Prices grew by 6.7 per cent, which is more than treble the regional average and brings the average house price to £144,564.

The rise may have been fuelled by a year of positive PR for Calderdale’s capital, Halifax. The reopening of its magnificent Piece Hall, along with a raft of events and a host of independent shops, have brought feel-good factor to the town. Prices start from about £60,000 for a two-bedroom terraced house.

Calderdale is also home to Hebden Bridge, which is a magnet for home buyers who crave a more alternative lifestyle.

Prices there start from £110,000 for a two-bedroom terraced house, though in up-and-coming Sowerby Bridge, which is close by, they start from £80,000.

Rotherham was the second highest performer with a price rise of six per cent taking the average value to £140,292.

Estate agents in the area point to a host of pretty villages around Rotherham, including Whiston, Wickersley and Wentworth. The town also has excellent road links with the M18 at one side and the M1 at the other.

Sheffield was third in the table with a gain of 5.3 per cent bringing the average value to £168,169. It marks a buoyant year for the city. Sheffield has one of the country’s highest student retention rates thanks to a growing number of high quality jobs, a friendly community and the appeal of affordable house prices. First-time buyers can still get onto the property ladder in Sheffield.

House price losers include Harrogate, where prices slipped by 2.4 per cent. However, its popularity is not in question. The spa town remains one of the most sought-after places to live in Yorkshire and it still has the region’s highest average house price of £282,619.

Craven, which encompasses Skipton and parts of the Yorkshire Dales, also saw values fall by 1.2 per cent and Doncaster prices recorded a loss of 0.9 per cent.

Hull retains its title as the cheapest place to buy a house in Yorkshire. The average home in the city is £113,065 and prices there rose 4.1 per cent over the year to November 2018.

The Land Registry data also reveals that terraced houses outperformed other property types with an average UK rise of four per cent compared with detached houses, 3.7 per cent, and semis, 3.5 per cent.

Flats and maisonettes fell by 0.4 per cent, though this figure is skewed by the high proportion of apartments in London, where they account for over a third of the housing stock, and where prices have fallen.

Statistics show that sales volumes in England have hovered around the 80,000 mark in the month of September between 2014 and 2017 but last September they slipped to 60,000.

The latest sold price data for new-builds reveals an annual average price rise of 5.7 per cent between September 2017 and September 2018, compared to 2.1 per cent for second-hand property.

The Bank of England says that the number of mortgages approved for house purchases dipped by 1.7 per cent over the year to November 2018 to 63,700. Mortgage approvals are seen to be a leading indicator of transactions volumes.

In November 2018, the most expensive area to live in was Kensington and Chelsea, where the cost of an average house was £1.3 million. In contrast, the cheapest area to purchase a property was Burnley, where an average house cost £83,000.

Here are the Yorkshire house prices rises and falls over the year from November 2017 and November 2018, plus the latest average price

Barnsley 1.1 per cent (£120,544); Bradford 2.6 per cent (£139,060); Calderdale 6.7 per cent (£144,564); Hull 4.1 per cent (£113,065); Craven -1.2 per cent (£210,420); Doncaster -0.9 per cent (£123,398); East Riding 3.1 per cent (£179,191); Hambleton 2.7 per cent (£236,434); Harrogate -2.4 per cent (£282,619); Kirklees 1.4 per cent (£148,674); Leeds 3.8 per cent (£182,562); North Yorkshire 0.5 per cent (£219,527); Richmondshire 5 per cent (£202,471); Rotherham 6 per cent (£140,292); Ryedale 4.5 per cent (£233,926); Scarborough 0.8 per cent (£164,189); Selby 2.1 per cent (£201,805); Sheffield 5.3 per cent (£168,169); Wakefield 3.4 per cent (£147,718); York 3.8 per cent (£252,138).