York Sales Market

• Average house price in York stands at approximately £311,000, up 2.5% year-on-year according to the latest ONS data.
• First-time buyers are paying an average of £267,000, a rise of 2.3% compared with a year ago.
• The market remains active, but buyers are increasingly selective and value-conscious, with realistic pricing becoming more important than at any time in the past few years.
• Properties are taking around 15 weeks on average to secure a sale, reflecting a more balanced market than during the post-pandemic boom.
• Nationally, sales activity remains ahead of 2024 levels despite economic uncertainty, demonstrating continued buyer demand.

York Lettings Market

• Average private rents in York have reached £1,178 per month, up 4.9% year-on-year.
• Demand for rental property continues to exceed supply, particularly for family homes and quality properties in popular residential areas.
• Landlords continue to benefit from strong tenant demand and low levels of available stock.

Economic Overview

• Inflation has moderated compared with previous years, helping to improve confidence across the housing market.
• Mortgage rates have stabilised compared with the highs seen in 2023–24, although recent global events have caused some upward pressure on borrowing costs.
• Nationwide reported annual UK house price growth of 1.7% in May, indicating a slower but still positive market.
• Buyers remain active, but affordability and value for money are key drivers of decision-making.