Prime property set to fall in value
PRIME property in the North is still struggling, according to the latest research by Savills.
Ben Pridden at Savills in York says: “Houses in many areas of Yorkshire in the £1m-plus bracket are still struggling. Whilst we were hoping that last year would see an end to price falls, we now anticipate another year of diminishing values for a significant proportion of prime homes in the North, albeit of only two per cent. The best addresses are still faring better than some, with values of some of the most popular areas of York making a complete recovery to levels not seen since 2007.”
He said York is following a trend seen in the South where the best towns, and cities are recovering long before the villages and surrounding countryside.