East Riding House Prices up 1.5% in May

Now could well be the perfect time to put your East Yorkshire house on the market if you have been thinking about it of late, as new Land Registry figures have revealed that property prices in the region have seen 12.5 per cent growth year on year.

According to the Bridlington Free Press, average property prices in East Yorkshire over the month of May peaked at £204,971, representing a 1.5 per cent increase on April.

Over the last 12 months, the average sale prices in the region climbed by £23,000, meaning that the area is now ninth among the 24 local authorities in Yorkshire and The Humber for annual growth.

Richmondshire saw the biggest annual growth, with prices rising on average by 21.8 per cent. Detached homes, meanwhile, saw the biggest hike in property prices across the East Riding for the month of May, up by 1.6 per cent to peak at £302,514 on average

For first-time buyers, the average cost of buying a home reached £169,000, which is £18,000 more than 12 months ago and £36,000 more than in May 2016. 

Those of you looking to sell in the near future can maximise your chances of success by making the necessary alterations to facilitate a sale and to ensure that you get the price you’re looking for.

Redecorating can make a big difference, as can general maintenance work. If you’re repainting, go for a neutral colour palette, as this will revitalise the living spaces while helping people to imagine themselves living there. Decluttering and tidying your rooms can also help in this regard, as well.

Do you need the help of a Hull estate agents at the moment? Get in touch with Symonds & Greenham today to see what we can do.

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