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Regional Property Market Update Summer 2021: North East, and Yorkshire and the Humber
Regional Property Market Update Summer 2021: North East, and Yorkshire and the Humber
Posted on: Thursday, June 24, 2021
2021 is set to be one of the busiest sales years in over a decade
Agents report the sales to stock ratios across the North East, and Yorkshire and the Humber are at a record high (RICS). At 3.5%, the annual rate of housing stock turnover across the North East, and Yorkshire and the Humber is above the UK average. The most active markets are currently Ryedale and Selby.
Price growth strengthens
Although new instructions to the market have improved slightly in recent weeks, demand continues to outpace supply, placing sustained pressure on prices. Month-on-month average property prices are rising in all regions of the UK. Year-on-year price growth across the North East, and Yorkshire and the Humber is substantially stronger than the 2.9% recorded this time a year ago (UKHPI). Double-digit annual price growth is evident in two-thirds of areas in the region.
A seller’s market
Market activity is fast-paced. According to Rightmove, the average time taken to sell a property in the North East, and Yorkshire and the Humber is 42 days. The proportion of properties selling within their first week of listing is at a record high (Zoopla) and the average time taken to sell a property in the UK is nearly three weeks quicker than in April 2019 (Rightmove). Lifestyle change continues to drive demand, buyers also aided by the extension of elements of tax relief and the new 95% government-backed mortgage guarantee scheme, available on either new or resale properties.
Properties for sale in the North East, and Yorkshire and the Humber region of the UK
Occupying a fantastic 0.5-acre plot with the potential for future development is this extremely spacious Victorian house. The property has been updated to respect the heart and character of this magnificent home, merging charming features with contemporary details to create a beautifully presented property. The plot enjoys a mature rear garden with lawn areas, patio seating areas, a Koi Carp fishpond, and views over open fields in all directions.
A modern detached, individually built house, with a gabled front elevation, stone sills and headers under a pantile roof. This property features a beautiful kitchen with bespoke Clive Christian units, fitted to the highest specification and standards, whilst the bathrooms feature Porcelanosa suites. There are landscaped garden areas and a paddock to the rear, perfect for those with equestrian interests. A substantial range of brick-built outbuildings comprises a detached games room, stables, and gymnasium.
This stunning five-bedroom house has been renovated by the present owners, sparing no expense, to create a modern and spacious family home. Set in mature gardens extending to 0.3 acres, the property offers flexible arrangements with ample living space including an open-plan living area, two further reception rooms and generous bedrooms to the first floor. To the rear of the property is an extensive open-plan living area with a fully-fitted kitchen and two large patio doors leading to the rear gardens.
Contact us
Take advantage of the seller's market this summer with the best agent in your area. Contact your local Guild Member today.
