Market Brief: The post-Christmas fog has lifted and looking ahead to the roaring twenties
After a steady start to the year, the property market in York is now getting busier as people are emerge from the post-Christmas fog and start getting back to reality.
There has undoubtedly been more activity and interest from buyers than before Christmas although we have found that some people, particularly those thinking of selling their property, are still waiting for the 31 January Brexit deadline to pass before making any firm decisions. However, I feel that the curtain of uncertainty which has plagued the country since the Brexit vote in 2016 has been lifted and increasing political and economic clarity will in turn bring greater stability to the property market.
This month we heard that York was the second most searched for city outside of London on Rightmove which indicates just how strong the demand is for property here. Recent statistics from Zoopla also revealed that rent rates in York increased by 5% in 2019, one of only three UK cities to see such an increase, again demonstrating the demand for property and popularity of the city. The news that York is being considered as a possible new home for the House of Lords is indication of York’s importance on a wider national scale and, if the move was to go ahead, it would be a huge boost for the city!
Demand for property in York does not go unnoticed by investors and developers and there are lots of new and exciting developments on the horizon this year. North Lodge, an exclusive gated development of 14, one and two bedroom apartments on the outskirts of York city centre are soon to be released for sale, perfect for young professionals. Apartments at Hudson Quarter are continuing to sell well and we are looking forward to the launch of the new Waverley and Victoria apartment buildings in the Spring – you can register your interest in those here.
If you are thinking of selling your property this year, I would encourage you to get in touch with us to discuss when might be the right time to sell and how to maximise your property’s potential value. Prospective buyers are registering their interest with us all the time and signing up to our property alerts, so we may even be able to match you up with a suitable buyer straight away.
To get an estimated value of your current property, you can use of free online valuation tool or call us on 01904 650650 to book a valuation appointment.