York’s ‘Generation Stuck’ and their £6,726m tied-up Equity

The predicament of the York 20 to 30 year olds who rent and their inability to get onto the housing ladder is often discussed in the press. There are 4.43m properties in the UK that are still in the private rented sector (compared to 2.13m in 2002). This group of people in their 20s and … More York’s ‘Generation Stuck’ and their £6,726m tied-up Equity

Will The Cost-of-Living Crisis Mark the End of the Booming York Property Market?

York property prices have increased by 21.2% over the last two years. York house prices have risen on the back of several things, including changes in how people see their homes and how they live and work (i.e. working from home), a lack of properties on the market and government tax incentives (the stamp duty … More Will The Cost-of-Living Crisis Mark the End of the Booming York Property Market?

York’s Millennials to Inherit £330,755 Each From Their Baby Boomer Parents

The total value of homes owned by Baby Boomers in York alone is £6,726,076,906 – and two-thirds of the York Millennials are set to inherit all that in the next few decades! Could this be the answer to the housing crisis? Could York Millennials live it up for the next few decades, safe in the … More York’s Millennials to Inherit £330,755 Each From Their Baby Boomer Parents

York Starter Homes are 49.1% Cheaper Today Than in 1989

Even though the average value of a York first-time buyer property has risen by 239.8% since 1989 to £304,870, the monthly payments York first-time buyers must make on their mortgages as a proportion of their take-home pay is 49.1% less today compared to 1989. Today, according to the Nationwide Building Society… the average York first-time … More York Starter Homes are 49.1% Cheaper Today Than in 1989

65.6% of York Properties Were Bought With a Mortgage in the Last Ten Years.

Could the high levels of mortgages that York people take out cause another property crash? Many York homeowners and landlords have been contacting me recently and asking what will happen to the York (and the UK) property market? More specifically, will we have a repeat of the 2008/9 Credit Crunch property crash? High mortgage payments … More 65.6% of York Properties Were Bought With a Mortgage in the Last Ten Years.

23.9% of York Property Sellers Reduce Their Asking Prices as the Property Market Equilibrium Starts to Return

243 of the 1,015 properties on the market in the York area have had a price reduction in the last 3 months. The average reduction has been 4.8% of the original asking price. This is great news for York home buyers and York buy-to-let landlords, strangely York house sellers as well. The last couple of … More 23.9% of York Property Sellers Reduce Their Asking Prices as the Property Market Equilibrium Starts to Return

The 6 Reasons York Rental Properties Could Inflation Proof Your Savings

Inflation (and recessions) can be nerve racking for people and their hard-earned savings and wealth. Yet there are six reasons which make investing in private rental properties a potentially wise investment in these changeable times. This article looks at how investing in York property could help you ‘hedge’ against inflation and protect your savings and … More The 6 Reasons York Rental Properties Could Inflation Proof Your Savings

York homeownership rockets by 2,999 homes in the last five years

The York housing market over the last five years has behaved oddly. York house prices are 35.1% higher than in 2017, even though during those five years, the British economy had the uncertainty of Brexit and the massive fall in GDP during the pandemic. Yet, a less observed trend is that the net number of … More York homeownership rockets by 2,999 homes in the last five years

York Rental Market Index – February 2021

Key Headlines: The average rent in York according to Rightmove was £873, showing an uplift of 8.21% from the same time last year. Rents grew year on year in 5 areas The areas where prices fell were:YO31 (Heworth, Huntington, The Groves, Layerthorpe) – (11.04%) 196 properties Let Agreed in February 2021, a 5.95% increase from … More York Rental Market Index – February 2021

York Sales Market Index – January 2021

Key Headlines Average sales price agreed in January 2021 was £313,500 showing a 10.28% increase from January 2020. Agreed Sale prices fell YOY in York in four areas. The areas where prices increased were: YO10 – (Fishergate, Fulford, Heslington, Osbaldwick, Tang Hall)YO19 – (Dunnington, Escrick, Wheldrake, Murton, Riccall, Stillingfleet, Warthill)YO24 – (Acomb, Dringhouses, Woodthorpe)YO31 – … More York Sales Market Index – January 2021

York Rental Market Index – January 2021

Key Headlines The average rent in York is now £858, showing a 0.92% decline from January 2020 Rents fell YOY in 5 areas of York The only areas which saw rental growth were: – YO23 (South Bank, Bishopthorpe, Copmanthorpe, Rufforth) – 6.57% growth – YO30 (Bootham, Clifton, Skelton, Linton-on-Ouse) – 9.05% growth 199 properties let … More York Rental Market Index – January 2021