Infographic: How Yorkshire house price rises compare

For Sale signs around Harrogate
For Sale signs around Harrogate
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THE cost of a typical UK home rocketed by £5,000 in just one month to hit £282,000 in July, official data has found.

The sharp rise represents the biggest monthly hike seen for a year, buoyed by a continued lack of housing supply and extremely cheap mortgage deals.

Latest average house prices by region

Latest average house prices by region

It is worth noting that prices have increased at a more moderate pace when viewed over 12 months, which is seen as a more reliable indicator of price trends.

Over this time scale prices jumped around £10,000 or 5.2% across the UK, according to the Office for National Statistics (ONS).

Looking at a nation by nation basis, prices in Northern Ireland saw the sharpest increase of 7.4% to stand at £154,000. English homes were up 5.6% £295,000, while in Wales property prices were broadly flat (0.3%) at £173,000.

Scotland was the only nation to see prices fall, down 1.3% to £196,000.

The ONS also offered a regional breakdown for England. London was unsurprisingly the most expensive with house prices rising to an eye-watering £525,000.

Interestingly, the annual percentage rise of 5.5% is actually lower than in the East (8.3%) and South East (6.7%), indicating the boom is by no means restricted to the capital.

Campbell Robb, chief executive of charity Shelter said such sharp hikes have left many families unable to afford a home.

“Not addressing our dramatic shortage of homes is pushing house prices higher and higher, and a stable home further out of reach for millions of young people and families.

“Instead they’re trapped in expensive and insecure private renting, or stuck in childhood bedrooms.

Below is a full regional breakdown of prices, with the percentage increase in brackets:

• N Ireland: £154,000 (+7.4%)

• NE England: £156,000 (-0.7%)

• Wales: £173,000 (+0.3%)

• NW England: £182,000 (+3.7%)

• Yorks/Humber: £183,000 (+4.7%)

• Scotland: £196,000 (-1.3%)

• E Midlands: £197,000 (+5.0%)

• W Midlands: £208,000 (+4.9%)

• SW England: £255,000 (+4.2%)

• UK-wide average: £282,000 (+5.2%)

• Eastern England: £302,000 (+8.3%)

• SE England: £354,000 (+6.7%)

• London: £525,000 (+5.5%)

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