York leading the way for property price increases
With an annual change of 7.56%, York leads the way in Yorkshire for property price rises.
According to the latest UK House Price Index, all five of our main offices are seeing significant increases as we head towards the autumn.
The latest figures look at June 2016 to June 2017 and reinforce one of our previous market insights about how the housing market is twice as strong and stable in Yorkshire as London. Here are the numbers:
As we can see, all of our branches are up based on this time last year, which is great news for the region and goes against some of the recent reports that showed a stumbling market down as much as 30% in some parts of the country.
The actual numbers are:
- York up to £248,114 from £235,164 (7.56%)
- Leeds up to £174,401 from £165,723 (5.24%)
- Doncaster up to £124,634 from £121,942 (2.21%)
- Sheffield up to £151,948 from £148,554 (2.28%)
- Selby up to £191,825 from £182,530 (5.09%)
The positivity goes even further than that as despite the increase in house prices, we still have attainable housing and Leeds was named one of the most affordable UK cities for first-time buyers following a new study.
This all comes as a result of a lower cost of living and as many as 25% of 25-34 year olds living in the capital said they’d leave London to buy their first home. These sort of developments are making northern England increasingly more desirable to live and cities like York, Leeds and Sheffield all continue to grow.
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