12 August 2019
YORK'S house prices have once again bucked the national trend - posting a 4% year-on-year increase, according to new research.
This compares to a UK house price growth rate of 1.2% in the same period, underlining the fact that the York property market is not just healthy - but also robust in the face of Brexit and other economic challenges.
In fact, its average house price has soared by 28% in just five years, making it one of the best-performing areas in the country.
In the past 12 months, there have been 3,979 sales - that's almost 11 every day - with the average price increasing to £255,155.
According to our York Valuation Manager, Stuart Robinson, one-quarter of all sales were detached homes, with larger family homes being particularly sought-after.
He revealed that average price of a detached home in York now stands at £364,154 - higher than both the Yorkshire and Humber average (£275,132) and the England and Wales average (£349,359).
He singled out these two detached York properties, newly-launched to market through our branch in Low Ousegate, as good examples of what is currently in demand:
Stuart added that the research highlighted YO19 as the York postcode with the most sales in the past three months, while the highest three transactions were £815,000 for a property in Malt Kiln Lane YO23; £775,000 for one on Grosvenor Terrace YO30; and £770,000 for one in Boroughbridge Road YO26.
'Around one-in-six sales in York are now apartments, as first-time buyers and 'downsizers' turn to city living in ever-increasing numbers, with flagship developments like Hungate breathing new life into the centre,' he said.
This fantastic two-bedroom, fifth-floor apartment with exquisite views of the River Foss and beyond is classic of what Hungate city living has to offer:
Whether buying or renting - the research showed that 17.7% of people in York live in privately-rented accommodation - the city's amenities also outperform the rest of Yorkshire.
Ultrafast broadband is available to twice as many residents than the regional average; 20.9% of homes have an 'outstanding' Ofsted primary school as their nearest, compared to just 14.6% regionally; and there is more chance of getting a table for dinner, with 1,533 residents per York restaurant, opposed to 2,454 residents per restaurant across Yorkshire and the Humber as a whole.
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*Data quoted is correct as of 7/8/2019, and is taken from Land Registry and Dataloft.
