Current average house price in Sheffield revealed as city's annual decline continues

House prices dropped by 1.4 per cent in Sheffield, new figures show.

The drop contributes to the longer-term trend, which has seen property prices in the area suffer a 2 per cent annual decline.

The most recently available data shows the average Sheffield house price in November was £217,090, Land Registry figures show – a 1.4 per cent decrease on October.

Over the month, the picture was different to that across Yorkshire and the Humber, where prices remained static, and Sheffield was lower than the 0.8 per cent drop for the UK as a whole.

Over the last year, the average sale price of property in Sheffield fell by £4,500 – putting the area 10th among Yorkshire and the Humber’s 15 local authorities with price data for annual growth.

The highest annual growth in the region was in Barnsley, where property prices increased on average by 5.4 per cent, to £175,000. At the other end of the scale, properties in North East Lincolnshire lost 4.7 per cent of their value, giving an average price of £149,000.

First steps on the property ladder

First-time buyers in Sheffield spent an average of £187,100 on their property – £4,500 less than a year ago, but £44,500 more than in November 2018.

By comparison, former owner-occupiers paid £243,500 on average in November – 30.1 per cent more than first-time buyers.

Property types

Owners of terraced houses saw the biggest fall in property prices in Sheffield in November – they dropped 1.8 per cent in price, to £187,725 on average. Over the last year, prices dropped by 2.8 per cent.

Among other types of property:

• Detached: down 1 per cent monthly; down 1.1 per cent annually; £388,954 average
• Semi-detached: down 1.4 per cent monthly; down 1.8 per cent annually; £239,893 average
• Flats: down 0.6 per cent monthly; down 1.9 per cent annually; £133,435 average

How do property prices in Sheffield compare?

Buyers paid 3.6 per cent more than the average price in Yorkshire and the Humber (£210,000) in November for a property in Sheffield. Across Yorkshire and the Humber, property prices are low compared to those across the UK, where the average cost is £285,000.

The most expensive properties in Yorkshire and the Humber were in York – £315,000 on average, and 1.4 times the price as in Sheffield. York properties cost 2.3 times the price as homes in Hull (£135,000 average), at the other end of the scale.

The highest property prices across the UK were in Kensington and Chelsea.

Factfile

Average property price in November

• Sheffield: £217,090
• Yorkshire and the Humber: £209,526
• UK: £284,950

Annual change to November

• Sheffield: -2 per cent
• Yorkshire and the Humber: -0.8 per cent
• UK: -2.1 per cent

Highest and lowest annual growth in Yorkshire and the Humber

• Barnsley: +5.4 per cent
• North East Lincolnshire: -4.7 per cent