House prices fell by 1.3% in Yorkshire & the Humber

House prices fell by 1.3% in Yorkshire & the Humber in Q4 2007, following a 2.8% rise in prices in the first nine months of the year, Halifax has reported.
Annually, house price growth in the region is 1.4%, however Halifax said the fall in prices last quarter needs to be seen in the context of the strong rise in house prices over the longer term. Over the past decade house prices in Yorkshire & the Humber have risen by 181%.

Ilkley recorded the biggest rise in price in the region over the past year with a 20% increase, followed by Cleethorpes (18%) and Driffield (18%). Ilkley was also the most expensive town in the region with an average house price of £353,557.

Guy Ogden, Regional Manager, Halifax Estate Agency, comments: “The housing market in Yorkshire and the Humber is quite subdued. The average house price in the region fell by 1.3% in the last quarter. Annually, house prices have increased by 1.4%.

The fall in prices last quarter needs to be seen in the context of the strong rise in house prices over the longer term. Over the past decade house prices in Yorkshire & the Humber have risen by 181%.

Ilkley recorded the biggest rise in average house price in the region over the past year with a 20% increase, followed by Cleethorpes (18%) and Driffield (18%).

Yorkshire and the Humber remains one of the most affordable regions in the UK with an average house price at £147,187, 25% below the UK average of £197,071.

The most affordable towns in the region include Hull (£129,850), Scunthorpe (£132,931) and Dewsbury (£137,090).”