Market Brief: The demand for property is high
The Autumn market has been very busy. However, one of the major factors affecting the housing market here in York, and further afield, is a lack of properties coming to the marketplace.
Although there are a good number of people wishing to sell their properties, they are tending to hold off from putting their own property on to the market because they’re not seeing a great deal of movement in the market. Of course, this circle is self-perpetuating and if more people were to come to the market, this would undoubtedly ease the situation.
The centre of the city remains highly sought after partly due to the historic nature and because there are fewer of these types of properties available. The number of new properties being built here can only be finite due to the lack of potential sites. The recent release of Nelson’s Yard, a development of six contemporary townhouses and two period houses created a good deal of interest and a number have already been sold.
If you’re thinking about selling your property in the new year, it may be worth considering getting the photographs sorted before the gardens deteriorate too much and whilst the weather is not too bad.
Whilst the Brexit negotiations rumble on, and are likely to do so for the next 18 months, the market remains cautious although we are still agreeing a good number of deals at some high prices, primarily due to the lack of stock available.