North Yorkshire Excellent Value for Prime Location13 May 2016
As property prices in London have risen by 75% since the recession, the highly desirable locations of North Yorkshire (where prices have dropped by 7% since the recession) are considered excellent value to Londoners and other investors looking to cash in their property wealth. Key hotspots such as Harrogate, York and Leeds remain competitive and the demand for country houses is also increasing. Over a third of estate agent Knight Frank’s sales were to buyers from out of Yorkshire and over half of the value of Blenkin & Co’s sales have gone to London or overseas buyers. York in particular has seen continued demand, primarily due to the excellent schooling in the area, but limited supply in the city is likely to encourage an increased interest in the surrounding towns and villages. The latest house price index released by the Office for National Statistics shows an increase by 7.9% for UK house prices in the year to January 2016, with Yorkshire seeing an annual rise of 3.8%, making the region a comparatively affordable choice for property investors while still seeing good returns as well as a desirable choice for buyers from outside of the region looking to relocate and achieve more property for their money.