Photo of Ian Preston By Ian Preston

Confidence in Yorkshire housing market is RISING post-Brexit

Posted 02/11/2016

Welcome to the Preston baker market update for November. Today we are going to be talking about the relative balance of supply and demand across Yorkshire looking at the whole market.

The big news stories at moment are that York continues to be the strongest performing market with 48% of properties listed on Rightmove being sold and 33% of all rentals properties being rented. Leeds is performing really strongly in terms of sales just behind York at 45%, but our Preston Baker branches are doing even better at 67% on properties being sold. That is a massive opportunity to sellers who are thinking of selling in Leeds and this also applies to Sheffield too which is at 65%.

So if you have got a property to sell and you are thinking well should we wait until the New Year - there is a massive imbalance between supply and demand in Sheffield and south west Sheffield in particular and North Leeds. So do have a chat with your local Preston Baker branch and have a discussion with them. 

Progress post-Brexit

Now how have things being progressing post-Brexit? In terms of the rentals market we’ve seen a big uptick in August and September were both record breaking months for Preston Baker rentals business as more and more tenants were securing rental properties - potentially being put off. Just waiting to see what was happening in terms of the sales market. You can see straight away York - 33 Doncaster at 24 and Sheffield at 23 are all strong numbers. Those are actually up from last month. So we can see the rentals market being relatively strong. 

There is one thing I want to show you - the internet enquires year on year which Preston Baker has been enjoying post-Brexit. So this is a really good bellwether for us about what demand is actually doing and what we’ve seen in the months of July, August, September - that the 2016 figures have been lower than the 2015 figures. This means there has been tangibly less of you through the Preston Baker website, through Zoopla and through Rightmove than the previous 12 months. We have actually seen this trend reverse in October. 

Future optimism

We can now see demand exceeding the point same point it was in 2015 and that for me is really significant for the Yorkshire market. And again it kind of confirms the picture we are seeing in terms of supply and demand.

If you’re thinking well lets kick it (selling your home) to after Christmas I’d suggest to you if that you have got a real need to move, get in touch, lets have a chat as there are plenty of buyers and tenants out there at the moment who would be interested in your home. So we’ll give you another update in a month and hopefully then we’ll be able to report on an improving picture and I’ll look forward to seeing you next time.

Posted 3 years ago

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