Introducing Yorkshire's property market index for sales and buy-to-let investors
Welcome to our September Market Update, today I’m going to be introducing the Preston Baker Index.
This is an index which looks at both sales and lettings to see which are the most popular areas from a buyers point of view, therefore where you should be selling and which areas are the most popular from a tenants point of view and therefore areas that property investors should be investing in.
We’ve seen a really clear distinction in the sales index between what I would generally class as first time buyer areas and prime residential areas being the strongest.
The second type of area which is doing really well are the first-time-buyer area; Chapel Allerton, Meanwood and some of the areas of Shadwell and those areas are ranging from 57% - 61% sold, that 60% mark seems to be around the highest which marketplaces tend to get to at this time of year.
House sales index: Popular areas to live in Yorkshire
In terms of lettings, the areas that I would be investing in currently, a couple of curveballs here; Thorpe Willoughby outside of Selby is performing extremely well with 75% of all property currently advertised there is let, Riccall which is a village located between York and Selby which again benefits from slightly lower prices than some of the other villages around York and that's doing incredibly well from a rentals point of view as its very commutable into York and that's currently at 67%.
Some of the prime residential areas in York are also doing extremely well; Fulford at 49%, Haxby and Wiggington at 44% which are both doing really well and over in Leeds it’s the areas you’d expect; Chapel Allerton, Meanwood and Shadwell so these are clearly extremely popular areas at the moment.
In Sheffield again it’s S11 and over in Doncaster DN3 is performing well in sales but for lettings some of the more prime areas of DN5; Sprotborough, Cusworth and also a new development called Woodfield Plantation, if you’re not familiar with that and you’re in Doncaster to invest in property, do take a look, there’ll be some nice low-maintenance properties for you.
Property investors index: Best buy-to-let areas in Yorkshire
So we hope to be able to deliver some more intelligence from our local property experts who can talk to you in more detail about what the indices mean in your area.
If you do have any questions please email me at email@example.com and I’ll do my best to respond to every email I receive.
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