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
In the realm of British suburban living, the semi-detached house has often been the subject of caricature, a symbol of safe yet uninspiring domesticity, epitomised by hit TV shows and movies like the Dursleys out of Harry Potter, the BBC show Outnumbered, Birds of a Feather and the ever-awkward son of Norwich, Alan Partridge. However, … More The Resurgence of York’s Semi-Detached Houses: … a 484% Price Surge in 28 Years
The UK rental market has once again demonstrated its resilience and dynamic nature. Recent figures state that the average advertised rent for newly listed properties in the UK last month was £1,787 per calendar month (pcm). The average for the UK excluding Greater London is £1,211 pcm (and Greater London on its own is £2,989 … More Rental Market Dynamics: A National & Regional Overview with a Focus on York
The consensus among economists and the wider public is clear: the remarkable ascent of York’s property prices over the previous twelve years has reached its peak and is now starting to drift downwards. Major national publications splash headlines filled with pessimism about the UK housing market, citing issues such as buyer affordability caused by challenges … More York’s Housing Market: An in-depth analysis of where York people are moving.
In recent months, in certain parts of the country, the British property market has exhibited signs of cooling. As a result, homeowners selling their homes face increasing competition from more homes on the market. The increase in mortgage rates has played a pivotal role in this cooling, taking a toll on potential buyers’ incomes, thereby … More 130.2% More York Properties on the Market in Last 20 Months: How York Home Sellers are Navigating the Storm
Navigating the property landscape, particularly in a city like York, requires more than just a reactive approach to the daily newspaper and social media headlines. As homeowners and potential investors are continuously bombarded with alarming whispers of plummeting house prices, coupled with rising interest rates and the heartache of negative equity, there’s a tangible atmosphere … More York Property Insights: Ignoring the Doom Monger Headlines
Stepping into the world of the property market is akin to stepping into a rhythm. The beats of buying and selling, supply and demand form the underlying tempo. York, a city rich in history and character, is no exception. As we venture into the last quarter of 2023, it’s crucial to understand the current property … More York’s Property Market Pulse: Deciphering the Latter Half of 2023
In an age of soundbites and sensationalism, the UK property market—particularly here in York—often finds itself misconstrued by general narratives. While we cannot ignore the challenges of increasing mortgage rates and shifting buyer preferences, it is vital to appreciate the broader context to understand what’s happening in the York property landscape. The UK housing market … More Understanding York’s Property Market: The Hidden Perils of Overpricing Your Home in York’s Cooling Market
The city of York has witnessed a profound transformation in its housing landscape over the last few years, and the surge in private renting has led to significant debates about the morality of the buy-to-let market. Let us look at the current statistics compared to 40 years ago to show the seismic shift. Looking at … More The Changing Landscape of York’s Housing Market: Exploring the Ethical Dimensions of Buy-to-Let Investment.
A York landlord remarked to me the other day that he felt that there were more ‘posher’ up-market properties coming up for rent in the last six months compared to a couple of years ago. I stated that this was the case, and it wasn’t all down to the recent rental growth – it was … More The Emergence of Accidental York Landlords in a Slowing Housing Market?
Call me old-fashioned and nostalgic, but I am fond of terraced houses. I’ve conducted some research that my fellow readers of the York Property Market Blog will find intriguing! Architecturally speaking, the terraced or townhouse has been prevalent in the UK since the late 1600s. It involves a row of symmetrical houses that … More The Untold Story of York’s Terraced Houses
The York property market experienced a boom between the summer of 2020 and late summer of 2022, fuelled mainly by pandemic-induced trends such as the stamp duty stimulus, low mortgage rates, the race for space, and the rise of remote working. 2023 has presented a different story for the York housing market, with cooling … More 14 Reasons Not to Fear York House Price Drops
The private rented sector for both York landlords and York tenants is facing immense challenges, with a shortage of available homes for rent putting renters under significant pressure. And you can see why when the average UK rent in 2021 was £1,381 and in 2023 it has been £1,706, an increase of 23.53%. … More York Rents Smash Through the £1,270 Barrier – Are York Landlords Profiteering?
During the pandemic, the property market experienced a surge in demand for larger York homes with spacious gardens. However, the tides are shifting, and a new trend is emerging. The combination of an ageing York population, the post-Covid trend for early retirement and economic uncertainty has sparked a newfound love for downsizing. And surprisingly … More The Rise of Bungalows in the York Property Market.
The average time to sell a house in the UK from start to finish is 170 days, equivalent to 24.3 weeks or 5.6 months from the first day of marketing to legal completion, whilst in York it’s 173 days. The actual time can vary depending on market conditions, location, property type, and pricing strategy, … More Why Does it Take 172 Days to Sell a Home in York?
As a York estate agent, I have witnessed first-hand how the York property market operates and the various factors that influence property sales. One intriguing aspect is the difference in saleability across different price ranges. In this article, we will delve into the dynamics of selling properties in relation to their price ranges … More Unlocking the Secrets of the York Property Market Across Different Price Ranges
A Comprehensive Guide for York Homeowners In the ever-changing world of York property, the terms ‘buyers’ market’ and ‘sellers’ market’ are phrases bandied about. These property market conditions can significantly impact your ability to buy or sell a York property, regardless of which side of the fence you find yourself on. As a York estate … More Is York a Buyers’ or Sellers’ Property Market?
Leaving 1,556 People on the Council House Waiting List in Despair There aren’t enough homes in York. The answer is clearly to build more property in York – but that, unfortunately for those badly seeking to buy or rent a home in York, takes a lot of time and massive amounts of money. So, what … More Shocking Revelation: 2,521 York Properties Remain Empty