Yorkshire’s thriving housing market outperforming the national average

YORKSHIRE’S housing market is outperforming the national average, as asking prices nationally picked up earlier than usual after the summer break.
Photo: Rebekah Downes/PA WirePhoto: Rebekah Downes/PA Wire
Photo: Rebekah Downes/PA Wire

Property website Rightmove said the figures were a sign that strong activity is set to return this autumn, House sellers’ asking prices jumped by 0.9 per cent month-on-month in September to reach £264,875 on average across England and Wales, marking the first time since 2011 that prices have increased at this time of year, Rightmove said.

But in Yorkshire and the Humber, jump was higher than the national average, with the average house price up almost £3,000 compared to last month, to £160,570 - up 1.9 per cent.

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Nationally, asking prices have recorded a typical monthly fall of 0.5 per cent in September over the last 10 years, as the market usually takes a little time to gear up again after the summer holidays.

Miles Shipside, director of Rightmove, said: “We usually see a price fall at this time of year as potential home movers are generally still in holiday mode.

“However, it looks like there are early signs of a bounce-back in demand after the summer lull, leaving those estate agents with a shortage of stock at a potential disadvantage and therefore eager to attract new instructions.”

East Anglia recorded the biggest month-on-month jump in average asking prices, with a 3.7 per cent rise pushing the average price to £249,860. The sharpest month-on-month fall was recorded in the West Midlands, where prices decreased by 1.8% to reach £194,077 typically.

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Compared with prices a year ago, London saw the biggest annual increase of the regions, up 13 per cent. In Yorkshire and the Humber, the annual change was 6.5 per cent, the joint fourth highest rise in the country.

Some estate agents have reported that the Scottish referendum had disrupted the housing market there as potential buyers are waiting to see what the outcome is.