Price growth strong across all regions
Annual property price growth in the North East, and Yorkshire and the Humber is significantly stronger than a year ago, as the shortage of property to buy continues to support prices. Agents across the North East, and Yorkshire and the Humber report the current sales to stock ratio is at a record high (RICS), with properties selling in just 38 and 35 days respectively (Rightmove).
Double-digit property price growth is evident in 25 areas of the North East, and Yorkshire and the Humber. Richmondshire, and Redcar and Cleveland are currently the strongest performing areas.
Surge in sales
It is estimated 880,000 property sales took place across the UK in the first six months of 2021, the highest half year total ever recorded and 50% higher than the same period in 2019 (HMRC). It is anticipated sales will top 1.5 million over the course of the year. Buyers have been spurred on by a desire for change and financial savings as a result of taxation ‘holidays’, with over 60% paying no tax on their purchase.
In the North East, and Yorkshire and the Humber, the most active housing markets over the past year have been in Selby and Ryedale.
Space to be
The search for space continues to drive many buying decisions. As businesses adopt more flexible ways of working, blended working patterns are set to become the norm for many, and personal wellbeing has shot up the agenda. The local environment, gardens, greater internal square footage and a demarcated space to work from home, all continue to be deemed more important property features in a new home.
Properties for sale in the North East region of the UK
Monk Fryston, West Yorkshire, 4 bedrooms
This spacious Grade II Listed character property is situated in the very heart of Monk Fryston village. Recently renovated, this home has been fitted with a bespoke kitchen by well-regarded Christopher Philips, along with a luxury en-suite shower room and an en-suite bathroom. The accommodation further benefits from gas fired central heating.
Crook, Durham, 5 bedrooms
Palmfield is an impressive, stone-built detached family residence located in a secluded position on the outskirts of the ever popular market town of Crook. This spacious property offers flexible family sized living, with the possibility of creating annexed accommodation, alongside ample off-road parking and well established gardens.
Wakefield, West Yorkshire, 3 bedrooms
Found in an extremely popular residential area, this well proportioned, three-bedroom family house offers excellent access to commuter links as well as Rothwell town centre and local schools. Downstairs, the terraced house comprises a lounge, an open-plan kitchen/diner, a utility, a hall and a downstairs cellar. To the first floor are three good-sized bedrooms and a house bathroom. Externally, the property benefits from a low maintenance west-facing rear garden with walled and fenced boundaries.
Make the most of double-digit property price growth with the best estate agent in your area. Contact your local Guild Member today.