Yorkshire property prices continue to grow
The latest property figures are in, and it continues to look positive for the Yorkshire and Humber region, with all our branch areas posting positive changes.
Recently, we’ve looked at how London-centric journalism is skewing everyones opinion of how the property market is looking across the UK. The capital has seen its lowest reading since 2008 recently, but the most recent House Price Index puts UK house price at 5% for the year between August 2016 and 2017.
Not only that, but Preston Baker have sold 86% of the properties that we have been instructed to sell, so the future looks bright - despite our quick turn into winter.
One of the most promising things to go alongside a rise in price is that affordability has grown by 13.7% in the last decade - this means that while prices are going up, housing is actually more accessible due to wage growth.
Figures from our branch areas all positive
Our main branches in Doncaster, Leeds, Selby, Sheffield and York are all at a positive annual percentage property price increase. Take a look at the full stats:
As we can see, the numbers are looking very good. In fact, in the whole of Yorkshire the average annual percentage change is at 4.76% with a monthly change of 1.38%.
In our region, it's the busy cities of Leeds, Sheffield and York that go toe-to-toe with these numbers and even with a negative change, Selby is still 1.3% up for the year. Here are the average property prices now:
This is all looking very positive in a market that has been hit by uncertainty and reported in a way to make it seem like there's a big slump. We are selling more homes in Yorkshire than ever before and alongside property price increases is a big jump in affordability.
Maybe now is the right time for your next - or first - home mover. Get in touch with the team now or view our properties online today.
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