Harrogate house prices rose by average of £39k in last year

House prices increased by three per cent in Harrogate in June, new figures show.

Monday, 23rd August 2021, 12:02 pm
Updated Monday, 23rd August 2021, 12:04 pm

The boost contributes to the longer-term trend, which has seen property prices in the area achieve 14.2% annual growth.

The average Harrogate house price in June was £312,104, Land Registry figures show – a 3% increase on May.

Over the month, the picture was less good than that across Yorkshire and The Humber, where prices increased 7.1%, and Harrogate underperformed compared to the 4.5% rise for the UK as a whole.

Harrogate house prices rose by an average of £39k in last year

Over the last year, the average sale price of property in Harrogate rose by £39,000 – putting the area sixth 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 29.4%, to £276,000. At the other end of the scale, properties in Hull gained 4.2% in value, giving an average price of £121,000.

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Owners of terraced houses saw the biggest improvement in property prices in Harrogate in June – they increased 3.1%, to £251,179 on average. Over the last year, prices rose by 14.1%.

Among other types of property:

Detached: up 2.9% monthly; up 15.5% annually; £511,741 average

Semi-detached: up 3% monthly; up 13.8% annually; £305,886 average

Flats: up 2.8% monthly; up 11.6% annually; £184,713 average

First steps on the property ladder

First-time buyers in Harrogate spent an average of £247,000 on their property – £30,000 more than a year ago, and £25,000 more than in June 2016.

By comparison, former owner-occupiers paid £345,000 on average in June – 39.8% more than first-time buyers.

Buyers paid more for properties in Harrogate than anywhere else in Yorkshire and The Humber in June. The average price paid would buy 2.6 homes in Hull (£121,000), at the other end of the scale.

The highest property prices across the UK were in Kensington and Chelsea, where the average June sale price of £1.2 million could buy 13 properties in Burnley (average £99,000).

Across Yorkshire and The Humber, property prices are higher than those across the UK, where the average cost £266,000.

Factfile

Average property price in June

Harrogate: £312,104

Yorkshire and The Humber: £194,518

UK: £265,668

Annual growth to June

Harrogate: +14.2%

Yorkshire and The Humber: +15.8%

UK: +13.2%

Best and worst annual growth in Yorkshire and The Humber

Richmondshire: +29.4%

Hull: +4.2%