24 Apr 2019 - Peter
The best way to improve your returns on a property is to have access to the latest property data. This data helps identify areas under development, in decline or with sudden changes in values.
However, processing and understanding all this data can take hours. So, we’ve gone ahead and crunched the numbers to highlight opportunities in North Yorkshire for property investment.
Prices paid have grown as compared to 2018 in the following areas:
Prices have fallen as compared to 2018 in the following areas:
From this data, there are several opportunities:
Winner - Selby: Selby is an exciting area with property prices below the North Yorkshire average at £180k. Buyer interest is strong, with an increase in property transaction volume of 4.3%. Plans are under discussion for rail connection improvements, with new services and trains direct to Leeds and York planned.
Runner Up - York: York is a popular area for students, young professionals and families, but has significant differences between postcodes.
The percentage change in transaction volume over the last 12 months for York postcodes (YOX XXX)
Potential York investors should be consider:
Overall, we believe North Yorkshire will continue to see significant growth in property values as a whole.
Employment Opportunities: There is commercial interest in the area, with Channel 4, Google, HMRC, Sky and more providing new job opportunities - all within commutable distance of North Yorkshire. Add tourism business from events such as The Tour de France, Tour de Yorkshire, UCI World Championships and employment prospects for Yorkshire look strong.
Escape the City: 60,000 Londoners bought homes outside the city in 2018 and spent an average of £424,610 on their new home, which is 1.6 times more than a buyer from elsewhere. These buyers, typically families, choose Yorkshire 12% of the time, attracted by short train journeys London, excellent schools and improved quality of life.
If you have any questions, or just need some advice, get in touch. We’re always happy to have a chat.