The boost contributes to the longer-term trend, which has seen property prices in the area achieve 11.3% annual growth.
The average Sheffield house price in November was £198,563, Land Registry figures show – a 2.1% increase on October.
Over the last year, the average sale price of property in Sheffield rose by £20,000 – putting the area seventh among Yorkshire and the Humber’s 21 local authorities with price data for annual growth.
The best annual growth in the region was in Selby, where property prices increased on average by 15.4%, to £246,000. At the other end of the scale, properties in Hull gained just 7.3% in value, giving an average price of £127,000.
Winners and Losers
Owners of detached houses saw the biggest improvement in property prices in Sheffield in November – they increased 2.6%, to £356,798 on average. Over the last year, prices rose by 14.5%.
Among other types of property:
Semi-detached: up 2.2% monthly; up 12.6% annually; £218,086 averageTerraced: up 1.8% monthly; up 9.7% annually; £169,748 averageFlats: up 1.7% monthly; up 7.9% annually; £126,579 average
First steps on the property ladder
First-time buyers in Sheffield spent an average of £171,000 on their property – £17,000 more than a year ago, and £41,000 more than in November 2016.
By comparison, former owner-occupiers paid £222,000 on average in November – 29.8% more than first-time buyers.
How do property prices in Sheffield compare?
Buyers paid 3.9% more than the average price in Yorkshire and the Humber (£191,000) in November for a property in Sheffield. Across Yorkshire and the Humber, property prices are higher than those across the UK, where the average cost £271,000.
The most expensive properties in Yorkshire and the Humber were in Harrogate – £317,000 on average, and 1.6 times as much as more than in Sheffield. Harrogate properties cost 2.5 times as much as homes in Hull (£127,000 average), at the other end of the scale.
The highest property prices across the UK were in Kensington and Chelsea.