It is good news so far for the hous­ing mar­ket in York­shire

Yorkshire Post - Property - - PROPERTY - Tim War­ing

SO fi­nally it look like we have had some good news from the bank­ing world.

A study by Lloyds TSB has stated that al­most two thirds of towns in Eng­land and Wales have seen a year-on-year in­crease in house sales.

It would be pre­ma­ture and per­haps even reck­less to sug­gest that the res­i­den­tial mar­ket in York­shire has re­turned to nor­mal. How­ever, there is clearly some­thing hap­pen­ing when the afore­men­tioned study re­ports that the York­shire area has the high­est pro­por­tion of towns in Eng­land and Wales that have re­ported an in­crease in sales yearon-year. All in all, 79 per cent have shown this en­cour­ag­ing rise.

So what is caus­ing this mar­ket ac­tiv­ity af­ter the dol­drums of re­cent years?

I have been ad­vo­cat­ing for many months that the down-toearth com­mon­sense and re­al­ism for which York­shire is known would be es­sen­tial for the mar­ket to turn. Not sur­pris­ingly, I am de­lighted that both buy­ers and sell­ers seem to have heeded this.

Lest one for­gets, nei­ther can func­tion with­out the other if sales are to be se­cured. As such, I be­lieve that the mar­ket could be very frag­ile over the next few months, if sell­ers re­act to what seems to be pos­i­tive mar­ket com­ment and im­me­di­ately har­den their stance on price then we could be in trou­ble.

The fact re­mains that if af­ter seven or eight view­ings you have a cou­ple of of­fers close, but be­low your ask­ing price, then that is the mar­ket price, how­ever much you tell your agent, so­lic­i­tor and friends (and quite of­ten po­ten­tial buy­ers) that, of course, you don’t have to sell. Sim­i­larly, I urge buy­ers, and par­tic­u­larly val­uers act­ing for any­body want­ing a mort­gage that what po­ten­tially seems to be an im­prov­ing yet re­al­is­tic mar­ket place can­not be ig­nored. It should not sim­ply be dis­missed as a short term blip.

Con­se­quently, if you then find there are other bid­ders for the same house, it is quite prob­a­bly true that a quick-talk­ing es­tate agent is try­ing to wind you up. So if you like the house, why not make an in­creased bid?

But surely com­mon sense and re­al­is­tic pric­ing are not the only fac­tors driv­ing the year-on-year in­crease in house sales across our re­gion?

While I be­lieve the above are ma­jor fac­tors help­ing the mar­ket at present, there does also seem to be an ac­cep­tance that ul­ti­mately a prop­erty is only worth what some­one is pre­pared to pay.

You should present your home in the best pos­si­ble light, at­tend to all the out­stand­ing main­te­nance works and heed what the house doc­tors say. What they ad­vise makes sense.

There­fore, keep the house tidy, re­move the clut­ter and touch up dec­o­ra­tive knocks and chips of ev­ery­day liv­ing. How­ever, you do not have to be ob­ses­sive. Not ev­ery­one lives in a state of com­plete or­gan­i­sa­tion and po­ten­tial buy­ers can some­times feel un­com­fort­able if noth­ing is out of place.

I also firmly be­lieve the unique “liv­ing pack­age” that we of­fer in York­shire can­not be beaten any­where else in the UK. We are sit­u­ated at the ge­o­graphic cen­tre of Bri­tain at the junc­tions of the M1, A1 and M62, two hours by train from York to ei­ther Lon­don or Ed­in­burgh, a re­gional air­port fly­ing di­rect to 30 coun­tries, two na­tional parks and bor­der­ing a third to the south, miles and miles of dra­matic coast­line, nu­mer­ous long-dis­tance walks as well as cas­tles, cathe­drals and Min­sters. The list goes on and that is be­fore con­sid­er­ing the at­trac­tions of the vil­lages and towns across the re­gion and the com­mer­cial cen­tres that drive our econ­omy.

I am sound­ing like an am­bas­sador for Wel­come to York­shire, but then maybe I am. When you con­sider that 36 per cent of my prop­erty sales so far this year have been to buy­ers mov­ing into York­shire from else­where in the UK or from abroad.

Tim War­ing is a part­ner of Knight Frank and heads their es­tate agency team in York­shire

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