The average house price in York (Zoopla 2021) was £295,339 with a detached house average being £401,970, a semi £258,645 and a terraced £284,962. Apartments are averaging at £226,112. Houses with gardens and outside space, certainly post -pandemic, come with a premium price tag.
Terraced houses have a unique charm and appeal to a wide demographic of buyers. They are a great 1st home, are popular with investors and loved by downsizers. Many of the terraced properties in York have a rear courtyard adding to their appeal but off-street parking is a rarity. Terraces range from a 2 bedroom, often with a downstairs bathroom to 6-bedroom, four storey townhouses. Many terraces retain a lot of their original features which are highly coveted and add to their period charm. The South Bank, Bootham and Huntington Road area are known for their array of terraces.
Semi-detached properties are often the next step on the property ladder, being preferred by young families because of their tendency to have a garden. Many semis often have off-street parking and sometimes a garage although many homeowners have converted garaging into additional living accommodation during the pandemic creating additional living spaces or home offices. Semi-detached properties are more common as you move out of York city centre to areas like Fulford, off Bishopthorpe Road, The Mount, Stockton Lane, Rawcliffe and Clifton. The Hull Road area is popular with investors as many of the properties have HMOs and make perfect student houses with good returns.
To find a bungalow you need to go further out and be quick! Bungalows are like gold dust and sell like hotcakes. Don’t underestimate the attraction of gardens, off-street parking, and a village location. Many bungalows are on generous plots and are popular with developers who purchase the property for the plot and either extend, add a dormer, or demolish and re-build. Poppleton, Copmanthorpe, Bishopthorpe and Dunnington have their fair share of bungalows, but few come to market. Many often need a re-furb as they have had an owner in situ for many years and invariably bathrooms, kitchens, wiring and heating need replacing. Due to supply and demand, prices are high, and bungalows often go to best and final offers.
Detached properties sell well and are sought after. The pandemic has driven the demand for detached properties up: many buyers are from out of area and have exchanged city or suburban living for outdoor space and a change in lifestyle. The types of detached propertied are wide and varied in York. There are Victorian villas, contemporary new-builds, 1930s and ’50s detached available. Prices range from £350,000 to in excess of £3m.
There are a variety of offerings of apartments in York. The majority are leasehold, and some have allocated parking. Garden flats are available or outdoor space may come in the shape of a balcony or communal garden. Many apartments in York are purpose-built or in converted, often period, buildings. These are particularly attractive to first time-buyers, young professionals, investors, downsizers and people wanting a second home. There is a particular demand for short-term lets in York at present but, leases permitting holiday lets are few and far between. City centre developments include the Hudson Quarter which offers studio – 3-bedroom penthouse opportunities and has all the benefits of city living in a brand new development: ready to move in. Converted houses tend to have 3 – 4 self-contained flats and prove popular with buyers who prefer character but often need a bit of TLC and more maintenance. Apartments predominantly are situated in or on the edge of the city centre but there are pockets of ‘apartment-living’ in areas such as Clifton and Rawcliffe.
If a brand new home is for you then look no further than Stamford Bridge, Derwenthorpe or Germanybeck: there are also new build developments planned for Boroughbridge Road.
In York, 2-bedroom properties: either terraces or apartments, are the most popular for investors. The yields work out higher and the upkeep and maintenance is manageable. Apartments are particularly sought after, especially at the moment if they permit short-term lets, as city living once again is on the rise. If you are targeting the student market then semi-detached in areas such as Badger Hill, Heslington and off Hull Road are where you should be looking.