Lincolnshire is experiencing a property boom - as house prices rise at
more than three times the national rate.
New data from HM Land Registry shows that the price of an average
house in our city was £186,875 at the start of the year.
That's an average 5.1 per cent rise compared to the same time in 2018,
when the figure stood at £177,822 - meaning the average homeowner will
have gained £9,053 over the period.
In the East Midlands as a whole, the value of detached houses rose the
most over the year - by 5.9 per cent.
Meanwhile, the value of flats rose by 2.4 per cent in the region in
the 12 months to January.
Nationally, house prices in the United Kingdom rose by 1.7 per cent in
the year to January.
The rate of increase was down slightly from 2.2 per cent in the year
to December, and 4.7 per cent in the year to January 2018.
The Office for National Statistics said that slowdown in the housing
market was mainly due to prices falling in the south.
The Midlands has seen house prices rise the fastest - up 4.2 per cent,
while in northern England, houses are worth roughly 2.8 per cent more
than they were a year ago.
However, house prices in the south have fallen by 0.2 per cent on
average over the year.
Houses in London are still worth far more than those in other parts of
the country - despite a 1.6 per cent fall in value over the last year.
An average property in the capital will set you back £472,230.
That’s compared to £321,174 in the south east (the second most
expensive part of the country), and £125,233 in the north east (the
cheapest region).
Property prices in the north east are the only ones not to have
reached their pre-recession peak.
