The five Ds shaping Yorkshire’s housing market in 2026, from death and divorce to downsizing and desire - Tim Waring
It is widely acknowledged the housing market thrives on confidence and perhaps there is not a lot of it about at present if you spend 24 hours watching Sky News.
But what is often overlooked is that, for many decades, the housing market has also been underwritten by the three Ds of death, divorce and debt. And the current market across Yorkshire is no different. In fact, the D factor is proving a particularly strong driver this spring, especially with the addition of two further Ds, but more of that later.
Death usually means sellers are motivated. Willing to sell at sensible prices but understandably not at all costs, despite what potential buyers often think, forgetting that executors have best price obligations to their beneficiaries.
To quote a long standing client and friend selling a nice country house when planning his affairs prior to sadly passing away last year: "Price it right Tim, make sure the buyer has the money, and sort the legals quickly.”. And that is what we did, with his clear instructions ringing in my ears.
The debt scenario is more difficult when third parties are involved. But ultimately all concerned want a swift conclusion, be that a borrower who wants to move on with their life, or the simplicity of a lender wanting their money back.
Either way it usually means the vendor is motivated to sell. The same cannot always be said of prospective sellers who are moving by choice, or who have inadvertently been drawn into a chain with numerous associated sales.
The divorce driven sale is inevitably more complicated, often becoming more emotive and usually time consuming. But for those in this difficult situation, if you are able to present a united front to the outside world, it can be financially rewarding.
The alternative is the likelihood of mercenary bids from prospective purchasers trying to take advantage of your situation, especially if you have just had a very public argument when unexpectedly meeting your estranged other half in a well-known local restaurant.
So if the traditional three Ds continue to underpin the housing market, what other Ds are adding an extra dimension?
Downsizing is proving to be an increasing trend this spring. Long-standing owners deciding to release the equity in their homes, free of capital gains tax, with the bank of Mum and Dad featuring large for many. For others, the opportunity to spend ahead of changes to inheritance tax from 2027 onwards is proving increasingly attractive.
As for the final D, it has actually been around for years, namely desire. Who doesn’t browse Rightmove and admire the latest impressive offerings from your favourite estate agent? For many it is only casual interest, but I detect definite signs of more serious intent from those who perhaps have put their house moving plans on hold in recent years. But they now think, what are we waiting for when an uncertain world now seems to be the new norm?
Lest one forgets, residential property is an asset that is usually held for the longer term, despite the major lenders giving you monthly price updates. House prices do not change dramatically, nor quickly, unlike Brent crude.
Tim Waring, is a prime residential property agent at GSC Grays estate agents, gsccgrays.co.uk