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House price growth hits 10-year high in Yorkshire and the Humber

Great time to find out how much your house is worth

Yorkshire and the Humber house prices at 10-year high

House prices in Yorkshire and the Humber have increased to a 10-year high level, says the newly-published Zoopla UK House Price Index Report for May 2021.

The current UK house price growth is at 4.7%, up from 2.2% a year ago, says the report. The price growth in Yorkshire and the Humber stands at 6.2%.

Find out how much your house is worth

With house prices in the Yorkshire and Humber region at a 10-year high now is a great time to find out how much your house is worth.

Book a valuation with Preston Baker Estate Agents. We are award-winning estate agents with branches in Leeds, Doncaster, Selby and York.

Book your valuation now!

Demand for homes strong

Demand for homes remains strong as stamp duty holiday ends and is “elevated compared to ‘normal’ market conditions”, according to the report.

London is lagging at 2.2% growth, the seventh month that this area has registered the lowest amount of growth across the country.

Search for space among home buyers strong

Lockdown has brought many changes and when it comes to home buyers the search for space is very evident, as they have been prompted by the Covid pandemic and lockdowns to make changes to lifestyle and home.

“As the full re-opening of the economy approaches, many office-based workers are also receiving guidance on how companies will operate when offices fully reopen,” says the report.

“Where companies are shifting to more flexible working, some workers will now have the certainty to make a move for additional space or to a different location if daily commuting is less of a consideration.”

Looking ahead, the report says that while the stamp duty holiday boosted housing demand, buyer demand remains strong, showing that “the once-in-a-generation ‘reassessment of home’ has further to run this year”.

“Demand may ease further as the re-opening of the economy allows people to do more and travel more widely, but at the same time, the confirmation of working practices for office-based workers will lead to more homebuyers being able to push ahead with a move.”

Stock of homes for sale low

There is a shortage of homes for sale, which will keep prices up.

“The total stock of homes for sale continues to run well below historical norms, and this will underpin pricing,” says the report.

It predicts that this year will be one of the busiest for the housing market since the global financial crisis - with 1.5 million residential transactions.

Get more for your house with Preston Baker

A busy housing market, with strong demand, means it is a great time to look at the value of your home and an onward move. Perhaps lockdown has given you a fresh perspective on life and you too would like more space or a change of location.

Here at Preston Baker we are experiencing a massive increase in demand for houses and increased prices across Yorkshire, as detailed in the latest Zoopla report.

Homeowners choose us to sell their homes due to our unique selling strategy. We use our own Property Launch® to place your property at the centre of a huge marketing campaign, securing on average 3.81%/£8,000 more than other agents, 47 days quicker and with no hassles as we take care of everything.

Property Launch® brings thousands of visits to your property from social media, with 372 different marketing combinations. The more interest created, the more people want to view your property and having those people see your property at the same Property Launch® event creates excitement and competition, leading to higher offers. It sells your property quicker, saves the need for multiple viewings on multiple days (meaning less hassle and less cleaning) and is safer in these Covid-times.

Preston Baker sells 78% of homes in the first 30 days.

Want to find out more? Want to know what your house may be worth?

Please get in touch with Preston Baker and we will be happy to help you.

Book your valuation now!

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