Market Brief: Demand for property in York rises as we head towards the Spring Market
As we head towards March at an alarmingly fast pace, we are now on the cusp of the Spring Market, traditionally a very busy period of the year for residential sales. The valuation team and I are now very busy with appointments and have been viewing a lot of properties over the last few weeks.
York’s popularity with house buyers is continuing to grow, particularly with those in the south. Recent research by Savills indicted that 17% of their buyers last year stated their main place of work as London. With the excellent transport links and ultra-fast internet speeds, living in York and working in London is a hugely attractive, and viable option for many.
Whilst still very much a long-term plan, the news that HS2 has been given the go ahead will undoubtedly boost the number of people moving North with the rail connections made even quicker and easier.
Indeed, the most recent statistics from Rightmove indicate that the demand for property across the region is high, with reports of a 7% uplift in the number of people searching for property in Yorkshire in January this year, compared to January 2019.
With demand for property in the region, and York in particular, continuing to far outstrip supply, I am confident that any property that’s placed on the market at a realistic price will attract a great deal of attention – we have lots of registered buyers just waiting for the right property to come along.
We continue to have a number of new developments launching in the city, the newest of which is a small development of 14 apartments just outside the city walls on Bootham Row. With minster views available and reservations now being taken off plan, they present an excellent investment opportunity. Prices start at £170,000 for a studio apartment. Please do get in touch to find out more.
If you are thinking of selling your property this year, now is the time to get ahead. You can use our free online valuation tool to get an estimate of what your property is worth, or call us on 01904 650650 to book a valuation appointment.