Sheffield property: city house prices rise more than Yorkshire average

House prices increased by 2.1 per cent – more than the average for Yorkshire and the Humber – in Sheffield in November, new figures show.

By Katie Williams
Wednesday, 19th January 2022, 3:48 pm
Updated Wednesday, 19th January 2022, 3:49 pm

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 month, the picture was better than that across Yorkshire and the Humber, where prices increased 1%, and Sheffield outperformed the 1.2% rise for the UK as a whole.

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The average Sheffield house price in November was £198,563

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.

Factfile

Average property price in November

Sheffield: £198,563; Yorkshire and the Humber: £191,036; UK: £270,708

Annual growth to November

Sheffield: +11.3%; Yorkshire and the Humber: +7.2%UK: +10%

Best and worst annual growth in Yorkshire and the Humber

Selby: +15.4%; Hull: +7.3%