Yorkshire house prices rising faster than national wages

The 3.3% rise in Yorkshire is higher than the average wage growth in the UK of around 2.4 per cent. The average house price figure of £184,000 is a jump of £33,000 compared to five years ago, when it stood at £151,000.

The Yorkshire Post reported a week ago that demand was healthy at the top end of the property market - with last year’s record-high sale of £297,000 on the Land Registry List having already been beaten at this early stage of the year.

The ONS report said that the annual rate of price growth seen across the UK was the fastest annual increase seen since March 2015. It reported that property values were continuing to “grow strongly”. The report said: “Upward price pressures may be a result of a shortage of supply and strengthening demand in the housing market.”

Discussing the top end of the market in Yorkshire, Simon Wright, a Partner of Carter Jonas, had said: “The general consensus is that there’s been a significant increase in sales and activity. Everything points to a good, strong market.

“Inevitably people conclude that we are selling to those looking outside of London or foreign buyers but the reality is that it is almost all to local, successful Yorkshire business people. That’s a healthy message.”

Mark Manning, Director of Fine and Country at Manning Stainton, anticipated an increase. He said: “The value for money, compared to the south for example, is exceptional. We expect that in 2016 - and beyond that - there will be more money coming up to this part of the world, with people cashing in on money made in London. Leeds could be a spot for investment in 2016.”