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.
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.