Re­gion’s charms woo more buy­ers from far afield

Lat­est fig­ures from Sav­ills show that York­shire is a mag­net for wealthy buy­ers from across the UK. Sharon Dale checks the num­bers.

Yorkshire Post - Property - - PROPERTY -

YORK­SHIRE is fast be­com­ing the county of choice for “of­fcummed ’uns”, ac­cord­ing to new re­search by Sav­ills.

The anal­y­sis re­veals that the county’s many charms are cur­rently at­tract­ing more well­heeled buy­ers from out­side the re­gion.

The study ex­am­ined three price brack­ets and re­vealed that a quar­ter of those buy­ing the re­gion’s top prop­er­ties, priced £500,000 and over, were from out­side the county.

Seven per cent were from Greater Lon­don and 18 per cent from the rest of the UK.

In the £350,000 to £500,000 price range, 22 per cent of buy­ers were from out­side the re­gion with 7 per cent from Greater Lon­don. There was also an in­flux from the flat lands of Suf­folk to York­shire; that ac­counted for 45 of sales

A quar­ter of those buy­ing homes for £350,000 and un­der were from else­where in the UK and one in 20 was from Greater Lon­don.

Al­most half the buy­ers were mov­ing up the prop­erty lad­der, while just 14 per cent were down­siz­ing and 13 per cent were buy­ing for in­vest­ment or re­de­vel­op­ment.

Most, 80 per cent, were buy­ing main res­i­dences, while 11 per cent were pur­chas­ing sec­ond homes and eight per cent bought to let.

Ben Prid­den, head of res­i­den­tial at Sav­ills York, says: “Our

They may have homes in the cities but they also want sec­ond homes in re­mote ar­eas

re­search shows that buy­ers from Lon­don and greater Lon­don are pur­chas­ing homes across all price bands in York­shire.

“Lon­don is a ma­jor part of many of our buy­ers’ lives. A large pro­por­tion make the move North for a bet­ter life­style, yet keep a base in Lon­don for work in the week or as an in­vest­ment. This is par­tic­u­larly true at the top end of the mar­ket, where a house in York­shire will more than likely make up part of a larger real es­tate port­fo­lio. As a re­sult, many new en­quiries for houses over £1,000,000 are ac­tu­ally from buy­ers who we have dealt with be­fore, as we may have helped them else­where with other prop­erty re­lated busi­ness, be it in Lon­don, the wider UK or even through one of our in­ter­na­tional of­fices.”

He adds that one in ten wouldbe buy­ers reg­is­tered with Sav­ills York is look­ing for a sec­ond home. Most look­ing for bolt holes are based in York­shire and the North East.

“They may have homes in the cities but they also want a sec­ond home in the re­mote ar­eas of York­shire. We also get peo­ple trav­el­ling from the South look­ing for a re­treat ‘Far From the Madding Crowd’

“This is driven by York’s ease of ac­cess to the na­tional rail and road net­work, and its prox­im­ity to the North York Moors Na­tional Park and the Howar­dian Hills area of out­stand­ing nat­u­ral beauty,”adds Mr Prid­den.

More buy­ers are also tak­ing ad­van­tage of the yawn­ing price gap be­tween prop­erty in York­shire and those in Lon­don and the South East.

“It is also in­ter­est­ing to see in­vest­ment and re­de­vel­op­ment fea­tur­ing so highly as a rea­son to buy,” adds Ben.

“Cer­tainly there have been more peo­ple look­ing at York as a city to in­vest in. We have also been in­volved with some big coun­try houses in need of com­plete re­fur­bish­ment that have at­tracted in­ter­est from this quar­ter. It is a par­tic­u­larly tough mar­ket, with in­vestors keen to drive a hard bar­gain.”

Wel­come to York­shire’s na­tional ad­ver­tis­ing cam­paigns have helped boost the county’s pro­file and the suc­cess of Leeds as a ma­jor fi­nan­cial cen­tre has also played a ma­jor part in at­tract­ing out-of-area buy­ers.

How­ever, the big­gest boost to the prop­erty mar­ket could come from next year’s Grand Dé­part.

Be­tween two and three mil­lion visi­tors are ex­pected to flood into the area to watch the start of the Tour de France.

Tourism will be the big­gest win­ner, of course, but es­tate agents ex­pect hefty spin off ben­e­fits, es­pe­cially from those who rarely ven­ture north of Wat­ford.

House prices here are keen and will ap­peal to those who work at home and oth­ers who want hol­i­day prop­er­ties in the coun­try­side or on the coast.

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