York Property Market Insight | Spring Watch


As one of the biggest independent York estate agents, we decided to offer a quarterly overview of the UK property market and a summary of the York property market.


UK property market overview

In spring the UK’s property market has gone from one extreme to another.


It was very much a seller’s market due to the Brexit uncertainty in March.  According to Halifax’s latest House Price Index the average property value in the UK fell by 1.6%.

This percentage applies across the whole country – though London’s property market is the most affected by the Brexit uncertainty.


However, this all changed mid-April when Rightmove announced an increase in housing prices thanks to what is dubbed as “Brexit Boredom”.

According to Rightmove, the average asking price on a home jumped by £3,500 in April, as many buyers and sellers are looking to get on with their plans despite the unanswered Brexit question. Many movers had been waiting for more information about Brexit, but have now chosen to continue with original plans regardless of the uncertainty.


York property market summary

 

To help our landlords, tenants and anyone looking to buy York houses or flats, we’ve put together this York property market spring watch:


· York house prices are up by 24% over the last 5 years as according to Rightmove and Zoopla data.


· The five up and coming York suburbs based on amount of properties sold are: Acomb, Rawcliffe, Heworth, Clifton and Huntington.


· York is announced as The Sunday Times’ regional winner of Best Place to Live 2019.


· The majority of properties for sale in York are two-bedroom homes followed closely by three-bedroom houses.


· Although on average the three-bedroom houses are currently selling faster than the two-bedrooms.


· There are currently more semi-detached houses available on the property market in York compared to other property types.


· Flats are the second most popular property type of York based on overall availability and average selling time.


· Year on year the average asking price for all York properties has risen by 4% with the asking price of flats in York rising by 10%.


· More new houses and flats in York are being built on top of car parks to maximise available space.


· 12 new homes received planning permission form the York City Council. The homes will be built on the unused playing fields of The Mount School on Dalton Terrace.


· More specific details on the Tenant Fee Ban legislation are expected at the end of April.


· Renting and letting shake-up with the ban of Section 21 evictions announced in April. Landlords will in effect still be able to use some of the Section 21 reasons for eviction, such as     wanting to sell the property or moving into the property themselves, but under Section 8. The government has also announced an overhaul of landlord rights including faster court     processes if tenants fall into arrears or damage the property.


If you’re interested in discussing York rental properties and York houses for sale in more detail, give our experienced team a call on 01904 631 631 today.

Alternatively, you can request a call-back or a valuation on our “get in touch” page.

Enjoying Easter in York


Easter is an excellent opportunity to get out and enjoy the spring weather. In honour of Easter we at Quantum have put together this new guide, which brings together everything York has to offer at this time of year. Whether you’re looking for estate agents in York to rent or to buy, we’re experts of […]

A Renter's Journey Through York


York is a city with something for everyone, at every major stage of their lives. As a university town there’s plenty of student housing, but there’s also plenty for people starting a career, or a family. If you want to rent with an estate agent’s in York, Quantum is an excellent choice. We know if you’re […]

Properties for Sale

View all our properties for sale in York & the surrounding area. Use filters to specify search location, radius, property value and more.

Properties for Rent

View all our houses and flats to let in York & the surrounding area. Our viewings include Sundays, so you’ll find your new place fast.

Own a property?

Whether you’re looking to sell your house in York or want to let out your property, our experienced team can help.