Local market update - winter to spring 2026
The property market in Hull and East Yorkshire saw a steady, albeit cautious, start to 2026. While both areas showed resilience compared to the national average, the East Riding is currently outperforming Hull in terms of price growth.
Here is a breakdown of the data from January to March 2026.
Kingston upon Hull: Market Overview
The market in Hull has remained largely flat regarding house prices, but it is seeing a significant surge in rental costs.
Average House Price: Approximately £131,000 (as of January 2026), showing almost 0% change from the previous year.
Property Type Breakdown (Avg. Price):
Detached: £237,000
Semi-detached: £154,000
Terraced: £120,000 (up 1.2% annually)
Flats: £77,000 (down 2.0% annually)
Rental Market: Private rents rose to an average of £676 in February, a sharp 6.4% annual increase. This outpaced the wider Yorkshire and Humber average growth of 4.3%.
East Riding of Yorkshire: Market Overview
The East Riding continues to be a premium area within the region, maintaining its position as the fourth most expensive area in Yorkshire and The Humber.
Average House Price: Approximately £221,000 (as of January 2026), a 3.5% increase compared to 2025.
Property Type Breakdown (Avg. Price):
Detached: £336,000
Semi-detached: £213,000 (up 4.1% annually)
Terraced: £170,000
Flats: £103,000
Rental Market: The average rent reached £699 in February. Interestingly, rental growth here (2.8%) was lower than in Hull, suggesting that while it’s more expensive to buy, the rental yield pressure is slightly less intense than in the city centre.
Wigwam By Numbers
If we’re going to comment on the market, we feel it would be wise to share our own data, just to show the real-world results we’re achieving for our clients every day.
The Takeaway: Even as the "time to sell" fluctuated in March, in-line with interest rate rises leading buyers to hesitate - we are consistently achieving over 100% of the asking price for our sellers.
Regional Comparisons & Trends (Q1 2026)
Key Market Drivers in 2026
Affordability: Hull remains one of the most affordable cities in the UK. The price-to-earnings ratio in Hull is roughly 4.4, compared to 6.0 in the East Riding and 7.5 across England and Wales.
Rental Yields: Landlords are finding strong returns in this region. Rental yields in Yorkshire and Humberside reached 9.0% in Q1 2026, up from 8.1% the previous year.
Economic Headwinds: While the year started with momentum due to lower mortgage rates, March saw a slight cooling across the UK. New buyer enquiries dipped in February/March due to geopolitical tensions in the Middle East, which have caused some volatility in mortgage swap rates.
What does it mean for Sellers?
This market rewards effort. If you want to create a buzz, your home needs to be more than just "on the market" - it needs to be launched. When a home is presented flawlessly and priced strategically, the buyers are there, and the competition is real.
Guesswork is a move-killer. A common mistake is over-pricing with the hope of "negotiating down," but in reality, this often just sidelines your home during its most crucial first weeks.
Put yourself in the shoes of your ideal buyer - what would you pay for your property?
Our Advice?
Be Intentional: Price for the market we are in, not the one we left behind.
Be Polished: Presentation isn't optional; it’s your best sales tool.
Be Ready: Aligning with buyer expectations from Day One is the fastest route to a "Sold" sign.
What does it mean for Buyers?
For buyers, this is a much more favourable landscape than we’ve seen in years.
More choice: You aren't restricted to just one or two options.
More time: You can actually breathe and think before making a life-changing decision.
More leverage: There is more opportunity to negotiate.
The "win" goes to those who are prepared. Having your finance agreed and being "market-ready" puts you in a very strong position to land the right home.
The current market in a nutshell
Motivated Buyers: People still want to move.
Increased Choice: More listings mean more opportunities.
Strategic Pricing: Well-positioned homes are still achieving top-tier results.
Quality over Quantity: It’s a market that rewards doing things properly.
The market hasn’t stopped - it’s just evolved
The market is still very much active; it’s just become more considered.
With the rise of AI, property data is at the touch of your fingertips (And those of your buyer). That means buyers have access to the same data Agents do. Buyers can see what you paid for the property. They can see the pictures when you bought it - so they know what you’ve spent on the property.
Buyers are taking their time, comparing their options, and focusing on genuine value. We don't see this as a negative; it’s simply a more balanced environment. And in a balanced market, the right strategy doesn't just help - it’s essential.
The shift driving the move
The biggest influence right now is, unsurprisingly, mortgage affordability. Rates are higher than they were a few years back, which has naturally shaped how buyers approach a move.
But here’s the interesting part: Buyers are no longer driven purely by the "asking price." They are focused on what a property means to them on a month-to-month basis. This clarity is actually a huge positive. Serious buyers are still making confident decisions because they know exactly what they can afford.
Thinking of selling?
Contact our team to book a valuation, and we’ll show you how to create a "buzz" around your property and walk away with more towards your next property: hello@wigwamhomes.co.uk /01482505152