Member Article

New studies reveal Yorkshire property market’s positive outlook

Data from the latest Move with Us Residential Market Review has shown that the property market in Yorkshire is showing measurable signs of improvement.

At the end of June, average asking prices had increased by 0.93% to £169,712, which is £2,997 more than in January 2013. In addition, properties sold nearly 25% faster in Q2 when compared to Q1. By June, the average number of days it took to complete a deal had dropped by 41, to 127 days.

Robin King, director at Move with Us, commented: “With improving selling times and prices increasing, Yorkshire has experienced some market improvements with the approach of summer. Asking prices in June were the highest we have logged since October 2010, suggesting sustained confidence amongst sellers.”

The Move with Us results chime with a new study by Rightmove for the region, which concluded that house prices in Yorkshire continued to rise in August, despite the first national drop this year.

The figures were less confident than those from Move with Us though, reporting that asking prices have increased by 0.2%, to an average of £161,876, compared with £161,607 in July. The property website’s latest house price index reveals that the listed cost of a typical home in the region has risen by 2.7%, from £157,627 a year ago.

The strongest year-on-year figures were in Harrogate and Leeds. The average price in Harrogate has grown to £301,735, the region’s highest, while in Leeds they leapt 4% to £162,893.

Rightmove also claims that prices have dropped across the country by 1.8% month-on-month, in what is the first fall of 2013.

This was posted in Bdaily's Members' News section by David Gatehouse .