Yorkshire and the Humber are leading the way when it comes to the growth in house prices across the UK.
According to figures from the Office of National Statistics property prices in God’s own County have risen by a whopping 14 per cent over the period from March 2020 to March 2021. This compares to an average price rise of 10.2 per cent across the UK in the same period.
The average house price in Yorkshire now stands at £188,575, whereas the average UK house price is £256,405.
Ben Furnell, Managing Director, of Furnell Residential, says: “The demand for property in the region is currently sky high which is clearly pushing prices up to unprecedented levels.
“The market has also been assisted by low interest rates and the availability of 95 per cent mortgages.
“There is still a hangover from the height of the pandemic where buyers came to the market in large numbers and this trend has continued as lockdown restrictions ease and life returns to some level of normality.”
Meanwhile, with demand continuing to outstrip supply Ben is urging people to subscribe to the firm’s database to receive early notification of new instructions.
“Most stock is being snapped up extremely quickly and often before it hits the open market,” says Ben. “Anyone who is serious about moving and who does not want to be left disappointed needs to sign up for our database without delay.”
Furnell Residential primarily covers Bardsey, Wetherby, Collingham, Scarcroft, East Keswick, Boston Spa, Harewood and parts of Harrogate.