Doncaster house prices dropped – but this does not reverse the long term trend
House prices dropped by 1.9 per cent in Doncaster in May, new figures show.
But the drop does not reverse the longer-term trend, which has seen property prices in the area achieve 9.3 per cent annual growth.
The average Doncaster house price in May was £142,916, Land Registry figures show – a 1.9 per cent decrease on April.
Over the month, the picture was worse than that across Yorkshire and The Humber, where prices increased 0.8 per cent, and Doncaster underperformed compared to the 0.9 per cent rise for the UK as a whole.
Over the last year, the average sale price of property in Doncaster rose by £12,000 – putting the area 18th among Yorkshire and The Humber’s 24 local authorities for annual growth.
The best annual growth in the region was in Richmondshire, where property prices increased on average by 21.8 per cent, to £255,000. At the other end of the scale, properties in Ryedale lost 4.8 per cent of their value, giving an average price of £236,000.
Winners and Losers
Owners of detached houses fared worst in Doncaster in May – they dropped two per cent in price, to £217,801 on average. But over the last year, prices rose by 9.6 per cent.
Terraced: down 1.6 per cent monthly; up 10.2 per cent annually; £109,028 average
Flats: down 1.5 per cent monthly; up 6.6 per cent annually; £84,800 average
First-time buyers in Doncaster spent an average of £128,000 on their property – £11,000 more than a year ago, and £21,000 more than in May 2016.
By comparison, former owner-occupiers paid £158,000 on average in May – 23.6 per cent more than first-time buyers.
Buyers paid 21.4 per cent less than the average price in Yorkshire and The Humber (£182,000) in May for a property in Doncaster. Across Yorkshire and The Humber, property prices are low compared to those across the UK, where the average cost £255,000.
The most expensive properties in Yorkshire and The Humber were in Harrogate – £309,000 on average, and 2.2 times as much as in Doncaster. Harrogate properties cost 2.6 times as much as homes in Hull (£119,000 average), at the other end of the scale.