Understanding the nuances of property sales is essential for both homeowners and investors in the dynamic York property market. A few weeks ago, I stated that of the York properties that have sold subject to contract (stc) in the three months of Dec, Jan & Feb, it took an average of 62 days to sell. … More 2-Bed or 3-Bed York Homes: Which Sells the Fastest?
In the articles on the York property market, we like to provide an insight into the real story of what is happening in our York (and national) property market and address the misconceptions that some of the ‘doom monger’ media have been spreading. Despite almost daily reports of a housing market crash since September 2022, … More York Q1 2024 Property Market Report
Many York people I talk to in their late 30s to late 40s are relying on the inheritance from their Baby boomer generation parents to help them in their home buying and retirement future. It is true there is £2 trillion (£2,040,861,524,790 to be exact give or take a few pennies) tied up in equity … More York’s £6.81 Billion Inheritance from Baby Boomers Won’t Save Gen X and Millennials
Whether you are a York landlord looking to liquidate your buy-to-let investment or a York homeowner looking to sell your home, finding a buyer and then getting the legal work done can take a frustratingly long time. It is a step-by-step process that can take many months. One of the worst parts of house selling … More 62 Days to Sell a Property in York
As a practised estate and letting agent based in York, I like to monitor the York property market, compare it to the UK property market, and then share it with York homeowners and landlords. For February 2024, the UK property market has seen a continuation of the solid start in the first month of the … More The York Property Market Report for March 2024
There are 28.4m households in Britain, of which 17,693,200 are owned, worth a total of £5,127,807,837,600 (£5.1 trillion). When you add all the private rented homes and council houses, that figure reaches just over £8.5 trillion! Over the last six years, 76,669 UK properties have sold each month, meaning the average British homeowner moves every … More York’s Restless Homeowners: The 5 Year 28 Week Itch in the York Housing Market
As an estate and letting agent with a keen eye on local York property trends, it becomes imperative to delve into the nuanced landscape of property types, mainly through the lens of bedroom distribution across various tenures. This analysis enriches the knowledge base of York homeowners and landlords and positions them advantageously in making informed … More 36.18% of York households are 3-bedroom homes. Is that enough?
The UK’s property market is facing a significant challenge as the availability of homes for rent has plummeted to its lowest level in five years, exacerbating the difficulties tenants face in finding affordable accommodation. This alarming trend was highlighted in a recent analysis, which revealed that in 2023, only 261,542 private rental homes were available … More The Future of the York Buy-to-Let Market in 2024
The number of agreed UK property sales until the last Sunday of January (28th) is 8.35% higher than a year ago. Tumbling mortgage costs have encouraged buyers and sellers to return to the property market. There is a more buoyant picture for the UK property market in the first four weeks of January 2024 compared … More House Sales Up 14.8% on 2023 as Mortgage Rates Fall: Yet is it a sellers’ market in York?
As a seasoned estate agent serving the York community, I’ve always prided myself on offering transparent, informed advice to local homeowners. Today, I’d like to provide a balanced perspective on the current housing market trends and what they could mean for those contemplating selling their York homes. The housing market is an ever-evolving landscape, and … More Is 2024 a good time to sell your York home?
As an experienced estate and letting agent based in York, I have been closely monitoring the trends in the UK property market. As of January 11th, 2024, the market has shown a solid start, a trend worth exploring, especially in how it might mirror or differ from the local market in York. In the first … More The UK Property Market in 2024: A Robust Start with Implications for York
In a recent financial turn, York residents are experiencing a wave of relief as mortgage rates across the UK take a surprising dip. This reduction, led by major lenders, signals a potential opportunity for the York housing market, directly affecting homeowners, landlords and first-time buyers in the city. Let’s delve into what this means for … More Mortgage War Will Save York Homeowners £4,092 a Year.
As I review the performance of the York property market in 2023, it’s evident that despite the challenges, the housing sector in the city has shown remarkable resilience. At the beginning of the year, many commentators in January 2023 suggested house prices would drop like a stone in 2023. The Halifax thought there would be … More Why didn’t York House Prices Crash in 2023?
The York housing market, like many others, has experienced a notable shift in 2023. The percentage of home sales agreed and moved (completed) compared to those withdrawn from the market unsold has decreased relative to 2022. Looking at independent data for the York area (YO1/10/19/23/24/26/30/31/32/41) … In 2022, 74.7% of properties that left the books … More How the 20.2% Saleability Drop in the York Property Market Might Impact Your 2024 Home Moving Plans
As we stand at the threshold of 2024, facing economic uncertainties and a shifting housing landscape, the significance of correct pricing in York’s property market has never been more pronounced. This comprehensive guide delves into the crucial aspects of property pricing and its profound impact on the property market transaction process. York’s Property Market: A … More Navigating the York Property Market: The Art of Pricing Properties Right
Property investment has long been a staple in British retirement planning. The introduction of the buy-to-let mortgage over a quarter-century ago marked a significant turn, presenting opportunities for dual returns: rental income in the short term and capital growth in the long-term. You can see why there are a substantial number of York landlords who … More Embarking on the Landlord Journey: Insights for Aspiring and Seasoned Landlords in York
Inflation, interest rates, house prices down, house prices up … the newspapers are full of column inches on Brit’s second favourite topic – the property market (the first being the weather obviously!). Those of you that read my articles on the York property market know I like to look further afield to compare the York … More York Property Market: Which homes are selling the best?
In the ever-changing landscape of the York property market, predicting future house price trends can be akin to navigating a labyrinth. The past two years have witnessed unprecedented upheaval, primarily due to fluctuating interest rates that significantly impacted household finances, reminiscent of the challenges not faced since 2008. The average rates for fixed-rate mortgages have … More The Future of York House Prices
The UK’s property market landscape has experienced a significant shift over the last couple of years. In October 2021, there were 424,809 properties for sale in the UK. That now stands at 664,780, a rise of 56.5%. Looking at the number of property sales in the UK in October 2021, 111,229 properties were sold subject … More The York Property Market and the importance of realistic pricing (if you want to sell)
As York strides into the future, the burgeoning private rented sector has continued to house many of its residents. The decade-spanning 2011 to 2021 saw a significant surge in the private rented sector, a testament to the enduring appeal and viability of the York property market. This growth has unfolded amidst a backdrop of housing … More 1 in 4.1 York Homes are in the Private Rented Sector: The Resilient Growth of York’s Private Rented Sector with a Decade of Opportunities Amid Challenges