Market Brief: A busy 2017 paves the way for an interesting 2018
2017 has been a busier year than expected. Prices in York have increased by approximately 5%, although this does vary geographically and by property type. Houses in the villages surrounding York have been particularly sought after together with the properties in the City Centre and Bishopthorpe Road.
New city centre houses and apartments that have recently become available after many years of planning have been well received with many being bought off plan prior to completion. Some new developments are achieving in excess of £600 per sq.ft. which for York was unheard of just a couple of years ago.
As we look forward to 2018, I suspect the continuing concerns over Brexit will hold the market back to a certain extent. However, the lack of supply of properties available to buy in the York area is likely to ensure values will continue to rise. Our prediction is that we will see another 3% to 5% increase in values during 2018, dependent upon property type and area.
We wish all our clients and friends a very Merry Christmas and prosperous 2018 and we look forward to seeing you soon.