House prices in Sheffield are remaining steady - the average is on the market for £183,090
House prices remained steady in Sheffield in December, new figures show.
The lack of movement maintains the longer-term trend, which has seen property prices in the area achieve 7.3% annual growth.
The average Sheffield house price in December was £183,090, Land Registry figures show – largely unchanged from November.
Over the month, the picture was worse than that across Yorkshire and The Humber, where prices increased 1.1%, and Sheffield underperformed compared to the 1.2% rise for the UK as a whole.
Over the last year, the average sale price of property in Sheffield rose by £13,000 – putting the area 20th among Yorkshire and The Humber’s 24 local authorities for annual growth.
The best annual growth in the region was in Richmondshire, where property prices increased on average by 24.3%, to £255,000. At the other end of the scale, properties in Harrogate gained 1.3% in value, giving an average price of £295,000.
Winners and Losers
Owners of terraced houses saw the biggest improvement in property prices in Sheffield in December – they increased 0.2%, to £158,397 on average. Over the last year, prices rose by 7.9%.
Among other types of property:
Detached: down 0.1% monthly; up 8.6% annually; £321,283 averageSemi-detached: down 0.1% monthly; up 7.2% annually; £198,942 averageFlats: up 0.1% monthly; up 5.2% annually; £120,128 average
First steps on the property ladder
First-time buyers in Sheffield spent an average of £159,000 on their property – £10,000 more than a year ago, and £32,000 more than in November 2015.
By comparison, former owner-occupiers paid £204,000 on average in December – 28.7% more than first-time buyers.
How do property prices in Sheffield compare?
Buyers paid roughly the same as the average price in Yorkshire and The Humber (£183,000) in December for a property in Sheffield. Across Yorkshire and The Humber, property prices are low compared to those across the UK, where the average cost £252,000.
The most expensive properties in Yorkshire and The Humber were in Harrogate – £295,000 on average, and 1.6 times as much as in Sheffield. Harrogate properties cost 2.5 times as much as homes in Hull (£116,000 average), at the other end of the scale.
The highest property prices across the UK were in Kensington and Chelsea, where the average December sale price of £1.3 million could buy 13 properties in Burnley (average £98,000).
Average property price in December
Sheffield: £183,090Yorkshire and The Humber: £182,907UK: £251,500Annual growth to December
Sheffield: +7.3%Yorkshire and The Humber: +10.4%UK: +8.5%Best and worst annual growth in Yorkshire and The Humber
Richmondshire: +24.3%Harrogate: +1.3%