Fore­cast is sunny for the York­shire mar­ket af­ter five years of gloom

What will 2014 hold for the prop­erty mar­ket in York­shire? Sharon Dale asked the ex­perts for their pre­dic­tions.

Yorkshire Post - Property - - PROPERTY -

hous­ing mar­ket is head­ing in a pos­i­tive di­rec­tion. Ac­tiv­ity in the low to mid-range mar­ket has re­ally ac­cel­er­ated through this year with a 15 per cent in­crease in sales year on year, and Oc­to­ber show­ing the high­est level of sales since 2007. This in­crease has not, how­ever, been matched by the num­ber of new prop­er­ties com­ing to mar­ket, up by only three per cent across the whole of our re­gion. De­pend­ing on what hap­pens at the start of 2014, with new stock likely to be­come more avail­able, we could see a shift away from this be­ing a buy­ers’ mar­ket, so watch this space.

Per­haps one of the most telling sta­tis­tics has been the in­crease in the num­ber of first-time buy­ers. Across the Man­ning Stain­ton group we have seen a stag­ger­ing 47 per cent in­crease in 2013 against 2012, a true sign of im­prov­ing mar­ket con­di­tions and con­fi­dence.

As the vol­ume mar­ket con­tin­ues its re­cov­ery we ex­pect this to fil­ter up the chain and pro­duce a sim­i­larly im­proved pic­ture for those look­ing to sell at the higher end of the mar­ket.

Over­all, it’s hard to look any­where but up. With the Gov­ern­ment throw­ing all their weight be­hind a re­cov­ery in the prop­erty mar­ket and lenders con­tin­u­ing to ease their cri­te­ria I think it’s fair to ex­pect a strong year for the mar­ket 2014.

All of this points to a busier prop­erty mar­ket and an in­crease in sales for 2014.

How­ever, I do not an­tic­i­pate any no­tice­able price in­creases as the eco­nomic en­vi­ron­ment within Calderdale has re­mained un­changed for many years. Hot spots con­tinue to be those ar­eas af­fected by the com­mer­cial growth within Manch­ester and Leeds, par­tic­u­larly lo­ca­tions around Rip­pon­den and Light­cliffe.

Fi­nally, I would make the com­ment that as a re­sult of sus­tained sales through­out 2013 that for the first time in al­most six years I am of the opin­ion that growth is just around the cor­ner and whilst this may not be 2014, I feel most cer­tainly that this will oc­cur in Calderdale in the next two to three years.

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