The average house price in Yorkshire increased in November, bucking the national trend. Despite a slight drop in average house prices across the UK, Yorkshire and the Humber saw a 0.8 percent increase compared to October, reaching an average price of £214,636. Doncaster experienced the highest annual growth at 6.7 percent, while Barnsley saw the smallest increase at 1.9 percent.
The cost of buying a home in every Yorkshire city, town, and area has been revealed. According to the latest figures from the Office for National Statistics, house prices in November increased by 0.8 percent in Yorkshire and the Humber compared to October. On average, a home in Yorkshire cost £214,636 in November. Doncaster was the local authority area of the county which saw the highest annual growth, where property prices rose on average by 6.7 percent.
On the opposite end of the spectrum, properties in Barnsley appreciated by just 1.9 percent in value. Nationally, average house prices in November saw a slight decrease compared to the previous month, but have risen by 3.3 percent during the past year. Separate data from the ONS indicates that the Consumer Prices Index (CPI) inflation dropped to 2.5 percent in December, down from 2.6 percent in November. Here are the average house prices in November for every local authority area in Yorkshire: Kirklees, Calderdale, Leeds, Bradford, Sheffield, Rotherham, Barnsley, Doncaster, North Yorkshire, York, Hull, and East Yorkshire. What the experts say David Hollingworth, associate director at L&C Mortgages, said: 'The surprise dip in inflation is some positive news for borrowers who will have been unsettled by the recent unrest in the gilt markets and what it may mean for mortgage rates. 'Although there may still be increases to come in the months ahead, the fall in inflation will firm up the hopes that the Bank of England will cut the base rate in February.' Mr Hollingworth commented that the market is uncertain whether the Bank of England will reduce rates as significantly and swiftly as was previously anticipated. He noted that this uncertainty has 'seen fixed rates edging higher before the end of the year, something that's continued into the new year.' 'This will have added an unwelcome dollop of uncertainty for borrowers that had been hoping for continued improvement in mortgage rates,' he said. 'The base rate is still expected to fall but the question is whether that drop will now be shallower and more gradual. 'Today's figures will help to maintain some stability in mortgage rates but those borrowers coming to the end of their current deal are still likely to want to secure a new rate a few months ahead of time. 'That will allow them to dodge any further increases if fixed rates continue to rise but still gives them room to review if things take a turn for the better.
HOUSE PRICES YORKSURE INFLATION MORTGAGE RATES PROPERTY MARKET
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