The BBC has recently reported that Yorkshire is the epicentre of the pandemic’s house price boom. From cottages in the Dales to new builds in Hull, “competition is fierce” in this part of the world and buyers need to move fast.
in Richmondshire, property prices have risen by 29% in the last year, according to the latest official figures from the Land Registry, which is faster growth than anywhere else in Britain (with the exception of Shetland and Orkney, where the sale of a single property can easily skew the data).
This increase is also visible in other rural areas of the UK, with property values in the Derbyshire Dales, North Norfolk, and the Cotswolds rising by more than 20% in the last year.
“Anything we listed [from last summer] flew out of the door,” said says Margi Irving, a Director at her family-run estate agents Richmondshire property has always been where we don’t get too high on the highs and low on the lows. It was a massive change from what we had seen previously.”
Today she has 32 homes available for sale now—but a year ago she had more than 100 on her books.
“We have definitely got a supply and demand issue,” she continued. “We have gone weeks, just like other agents, listing just one or two. People are reluctant to put their house on the market because they have nowhere to buy.”
In a constantly changing market, particularly in the pandemic, staying ahead of property trends is key to selling your house or buying a new one—which is why you need the help of the experts, like us.
If you’re looking to buy or sell a new build in Hull and East Yorkshire, get in touch with our professional team today.
