Sheffield house prices increased more than across Yorkshire and The Humber in July

The boost contributes to the longer-term trend, which has seen property prices in the area achieve 1.8 per cent annual growth.

The average Sheffield house price in July was £168,491, Land Registry figures show – a 2.4 per cent increase on June.

Over the month, the picture was better than that across Yorkshire and the Humber, where prices increased 1.5 per cent, and Sheffield outperformed the 0.5 per cent rise for the UK as a whole.

Over the last year, the average sale price of property in Sheffield rose by £3,000 – putting the area 14th among Yorkshire and the Humber’s 21 local authorities for annual growth.

The best annual growth in the region was in Ryedale, where properties increased on average by 7.7 per cent, to £250,000.

At the other end of the scale, properties in Bradford dropped 0.4 per cent in value, giving an average price of £138,000.

Owners of flats saw the biggest improvement in property prices in Sheffield in July – they increased 2.7 per cent, to £111,443 on average– but over the last year, prices dropped by 1.3 per cent.

Among other types of property: detached were up 2 per cent monthly, up 2.4 per cent annually, and £292,486 on average; semi-detached were up 2.5 per cent monthly, up 2.7 per cent annually, £183,891 average; terraced - up 2.3 per cent monthly, up 2 per cent annually, with an average of £145,2 34.

First-time buyers in Sheffield spent an average of £146,400 on their property – £2,200 more than a year ago, and £20,700 more than in July 2015.

By comparison, former owner-occupiers paid £187,200 on average in July – 27.8 per cent more than first-time buyers.

Buyers paid 1.7 per cent less than the average price in Yorkshire and the Humber of £171,000 in July for a property in Sheffield.

The most expensive properties in Yorkshire and the Humber were in Harrogate with £288,000 on average, which is 1.7 times as much as in Sheffield.

FROM THE EDITOR

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