Doncaster house prices down by 0.1 per cent in June

House prices in Doncaster declined slightly, by 0.1 per cent in June, contributing to a 1.1 per cent fall over the last 12 months.

Thursday, 16th August 2018, 9:44 am
Updated Thursday, 16th August 2018, 3:00 pm
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The latest data from the Office of National Statistics shows that the average property in the area sold for £123,262 - significantly lower than the UK average of £228,384.

Across Yorkshire and The Humber, property prices have risen by 3.2 per cent in the last year, to £160,727. The region outperformed the UK as whole, which saw the average property value increase by 3 per cent.

The data comes from the House Price Index, which the ONS compiles using house sale information from the Land Registry, and the equivalent bodies in Scotland and Northern Ireland.

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The average homeowner in Doncaster will have seen their property jump in value by around £15,000 in the last five years.

The figures also showed that buyers who made their first step onto the property ladder in Doncaster in June spent an average of £110,281 - around £13,000 more than it would have cost them five years ago.

Lawrence Bowles, the associate director of the research team at the estate agents Savills, said the national figures were a “mixed picture” for homeowners.

“Broadly speaking the story of 3 per cent price growth across the country, over the last 12 months, is faster than inflation,” he explained.

“Growth is starting to flow down, with prices increasing across the UK, particularly in the West and East Midlands, Scotland, Wales and Northern Ireland.

“The West Midlands is the stand out area, and this shows a trend of people moving away from London due to cost.”

Mr Bowles explained that Savills expected property prices in the north to grow over the next five years, as people continued to be priced out of the capital.

In London house prices fell at their fastest pace since 2009.

Between May last year and April this year, the most recent 12 months for which sales volume data is available, 4,583 homes were sold in Doncaster, five per cent more than in the previous year.

The highest house prices in the country in June were found in Kensington and Chelsea, London, where properties sold for an average of £1.15million - 14 times the cost of a home in Burnley, where the average property cost just £81,352.