Why Harrogate’s most expensive homes are increasingly being put on the open market
For years, some of Harrogate's most desirable homes have changed hands without ever appearing on the open market, with wealthy buyers relying on personal contacts and discreet approaches to secure properties in one of the town's most exclusive neighbourhoods.
But a growing number of expensive houses are now being advertised publicly, offering an insight into the changing dynamics of Yorkshire's prime property market.
The Duchy Estate, home to hundreds of properties where houses worth more than £2m are not unusual, currently has around nine high-value detached homes listed on Rightmove. They are priced between £1.095m and £2.35m, having come to market between January and September this year.
However, sales figures from the property portal show that flats have accounted for the majority of transactions on the estate over the past 12 months, with only a few larger properties changing hands.
Julian Rich, Yorkshire regional partner at buying agency Garrington Property Finders, says that in a stronger market many of the higher value properties would traditionally have been sold privately, without ever reaching the property portals. "This area is often a bellweather for the market. When there's a high number of detached properties available on the open market on the Duchy then the market is tricky. In a good market, these are all dealt with on the quiet market."
Julian, who has lived on the estate for more than 20 years, says he has noticed the shift over the past 12 to 18 months.
Part of Harrogate's conservation area, the Duchy Estate is characterised by large Victorian and Edwardian houses, mature trees and generous plots, with the added attraction of being within walking distance of the town centre and open countryside.
Its mix of substantial detached homes, semi-detached properties and apartments attracts both families and downsizers, while its established character and limited opportunities for new development help underpin its appeal. "It's a real family area, and the closer quarters to town does attract the downsizers as well," Julian says.
But even an established address with a limited supply of desirable properties is not immune to the wider pressures affecting the market. Uncertainty surrounding successive Budgets, speculation over changes to property taxation, interest rates and international events are making buyers more cautious.
"During Covid, anything that hit the market on the Duchy went bananas, and there were lots and lots and lots of viewings,” says Julian. “Whereas at the moment, you can buy those same sort of properties with less competition."
He believes sellers who get their asking price right can still attract interest. There is also a growing premium for turnkey homes, as rising building costs and the difficulty of finding tradespeople make buyers more reluctant to take on renovation projects. "It takes away the stress and complications of managing the work," he says.
He believes off-market deals will remain important, particularly for buyers with specific requirements, but the current increase in publicly advertised homes reflects a period of greater caution.
Recent figures suggest that prime housing markets face another difficult year, with Savills forecasting further price falls in 2027 before a gradual recovery takes hold, although the picture is more positive for parts of northern England.
The Duchy Estate will retain its appeal, he says, but even its most desirable houses are not guaranteed to sell quickly. "The market's there. We're not in a bad time, it's just a quieter time," he adds.
Carter Jonas is currently marketing two large properties – a five bedroom detached home on Sussex Avenue for £1.795m and a five bedroom double fronted Victorian townhouse on Kent Road for £1.25m.
“Historically, many homes at the upper end of the market were sold discreetly through established networks, but sellers are increasingly recognising the benefits of a carefully targeted open market campaign, particularly when trying to reach buyers relocating from London, the South East and other regional centres,” says Alex Booth, associate at Carter Jonas.
“While buyer demand for quality homes remains strong, purchasers are undoubtedly taking longer to make decisions than they did during the post-pandemic market peak.”
He adds: “That said, well-presented and correctly priced properties in prime locations such as the Duchy continue to generate strong levels of interest.”
Elsewhere, Edward Hartshorne, managing director of Blenkin & Co in York, who attributes 25 per cent of the firm’s sales to off-market deals, says the discretionary market remains strong.
Blenkin currently has over £40m worth of property on the private market and recently sold a home on the edge of York for nearly £4m. “Done properly, private marketing is really powerful. People love the discretion,” he says.