Sheffield house prices increased slightly in June

House prices increased slightly in Sheffield in June, new figures show.
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But the boost does not reverse the longer-term trend, which has seen property prices in the area remain level.

The average Sheffield house price in June was £165,262, Land Registry figures show – a 0.3% increase on May.

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Over the month, the picture was less good than that across Yorkshire and The Humber, where prices increased 2.7%, and Sheffield underperformed compared to the 0.7% rise for the UK as a whole.

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Over the last year, the average sale price of property in Sheffield remained level – putting the area 17th among Yorkshire and The Humber’s 21 local authorities for annual growth.

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The best annual growth in the region was in Ryedale, where properties increased on average by 5.2%, to £244,000. At the other end of the scale, properties in Harrogate dropped 4.9% in value, giving an average price of £268,000.

Winners and Losers

Owners of semi-detached houses saw the biggest improvement in property prices in Sheffield in June – they increased 0.4%, to £180,331 on average. Over the last year, prices rose by 0.8%.

Among other types of property:

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Detached: up 0.3% monthly; up 1.1% annually; £288,698.295 average

Flats: down 0.2% monthly; down 3.7% annually; £108,431 average

First steps on the property ladder

First-time buyers in Sheffield spent an average of £143,510 on their property – £560 less than a year ago, and £21,280 more than in June 2015.

By comparison, former owner-occupiers paid £183,730 on average in June – 28.0% more than first-time buyers.

How do property prices in Sheffield compare?

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Buyers paid 2.2% less than the average price in Yorkshire and The Humber (£169,000) in June for a property in Sheffield. Across Yorkshire and The Humber, property prices are low compared to those across the UK, where the average cost £238,000.

The most expensive properties in Yorkshire and The Humber were in Harrogate – £268,000 on average, and 1.6 times as much as in Sheffield. Harrogate properties cost 2.3 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 June sale price of £1.4 million could buy 15 properties in Burnley (average £92,000).

Factfile

Average property price in June

Sheffield: £165,262

Yorkshire and The Humber: £169,020

UK: £237,834

Annual growth to June

Sheffield: 0.0%

Yorkshire and The Humber: +3.3%

UK: +3.4%

Best and worst annual growth in Yorkshire and The Humber

Ryedale: +5.2%

Harrogate: -4.9%

FROM THE EDITOR

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