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Region's house prices rise slower than rest of UK

Rise in house prices Credit: ITV Yorkshire

House prices in the region rose by just 0.2% month-on-month in November compared to 0.5% nationally, according to property analyst Hometrack.

But in a sign that prices could be starting to run ahead of what buyers are willing to pay, the typical percentage of the asking price achieved dipped in November to 95%, from a six-year high of 95.2% recorded in October.

Widened mortgage availability is said to be fuelling demand from aspiring property buyers, but experts say that a lack of houses to choose from is pushing prices up.

Hometrack said that while the number of new buyers registering with estate agents was up 10.2% over the last six months, the supply of homes for sale has dropped 0.6% over the same period.

House prices rise again - Halifax

House prices have continued to rise at their fastest pace in three years as more would-be buyers flock into the market, Halifax reported.

A 6.2% annual rise in September takes average house values to £170,733 and represents the biggest year-on-year increase since 2010, the lender said.

The latest increase follows a 5.4% annual rise in August, which like September's increase was the strongest rate since June 2010.

On a month-on-month basis, prices rose by 0.3%, equalling the increase in August and marking the eighth month of rises in a row.

Fears have been growing that some stronger than expected price rises this year could be leading to a bubble, with borrowers over-stretching themselves. The Government has brought forward the launch of the new phase of its flagship Help to Buy scheme from January to next week.

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House prices fall in Yorkshire and Northern Lincolnshire

House prices in Yorkshire and Northern Lincolnshire fell 0.1% in December, while prices across the country will edge down 1% during 2013 as the London market shows signs of cooling, property analysts have said.

Prices fell 0.1% month-on-month in December, marking the sixth month in a row that this has happened, and average prices ended the year 0.3% lower than a year ago, Hometrack said.

It predicts that a reluctance by struggling families to take on more debt will continue to act as a drag on the housing market next year and prices will be more volatile with continued low sales.

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North-South house price divide

There is evidence of a north-south divide in terms of house prices as it has been revealed houses in our region are some of the lowest in the country.

Figures show prices rose 1.4% in the year to April, but the biggest decreases in England were in Yorkshire and north Lincolnshire and the North West.

Rotherham's discounted houses

Rotherham has the highest proportion of discounted properties, even though house sellers are less likely to have dropped their asking prices than they were 3 months ago.

A study by property website Zoopla has found prices are generally staying the same despite the withdrawal of a stamp duty concession for first time buyers.

School house price 'premium' revealed

Across Yorkshire and Humberside houses near the top primary school areas are an average price of £75,000 or 47.4% higher than the region generally.

Demand for properties near St Mary's Church of England Primary School in Askham Richard, York, has helped prices to rise to £275,642, which is 75% higher than the regional average.

Too often the poorest families are left with the worst schools while the rich can pay their way to a good education.

That's why we are raising standards by turning around failing schools and

opening new free schools to give all parents the choice that currently only the

rich can afford.

– A spokesman for the Department for Education