Bedale is boom­ing as Ripon gets ready for take-off

Har­ro­gate is still the num­ber one hotspot, but it has some emerg­ing ri­vals close at hand. Sharon Dale re­ports.

Yorkshire Post - Property - - PROPERTY NEWS -

THERE HASN’T been a for­mal count but the num­ber of “suits” catch­ing the crack-of-dawn train from Thirsk via York to Kings Cross on Tues­days has bur­geoned in the last few years.

The 6.30am ser­vice, which ar­rives in London at 9.06am, is in­dica­tive of two ma­jor trends, ac­cord­ing to The Search Part­ner­ship.

The prop­erty find­ing firm says those mov­ing from London to York­shire are in­creas­ingly split­ting their work­ing week be­tween the cap­i­tal and their home of­fice.

“They work Tues­day, Wed­nes­day and Thurs­day in London and the rest of the time from home. So they catch the early train on Tues­day and the late train back home on Thurs­day spend­ing just two nights away. It’s very no­tice­able at both Thirsk and Northaller­ton sta­tions and the num­ber of peo­ple do­ing this is def­i­nitely ris­ing,” says The Search Part­ner­ship co-founder Toby Mil­bank.

The rea­son for this is the in­creas­ing pop­u­lar­ity of prop­erty in the Bedale area. A new re­port by The Search Part­ner­ship, which is based in North York­shire, re­veals that Bedale was last year’s star per­former in a league that in­cludes lu­mi­nar­ies such as Har­ro­gate and Wetherby.

The re­port looked at de­tached prop­er­ties in Har­ro­gate, Wetherby, Bor­ough­bridge,

Ripon, Bedale, Thirsk and the sur­round­ing vil­lages. Most were sold for £300,000 and over.

It fo­cuses on the fig­ure for pounds per square foot by di­vid­ing the Land Registry sale price by the gross in­ter­nal square footage of every house sold in each of the six ar­eas in 2016.

Bedale and its vil­lages topped the ta­ble with prices per square foot ris­ing 17.1 per cent to £225 in 2016. The open­ing of the Bedale by­pass, which gives quick and easy ac­cess onto the A1, is one of the main rea­sons for the up­lift in values.

“In 2015, Har­ro­gate and Wetherby were the top per­form­ers but Bedale has shot up. It’s the big­gest in­crease we have ever seen in our re­gion and that’s be­cause of the by­pass and the fact more buy­ers are re­al­is­ing that the area of­fers very good value. Out of the six ar­eas we stud­ied, it is still the cheap­est place to buy. Five years ago, a lot of buy­ers wouldn’t have con­sid­ered it but it’s a very dif­fer­ent story now. The rail

FOR SALE: links to London are close by and the drive to Leeds is less than an hour,” says Toby, who be­lieves that prices in the area will con­tinue to rise this year.

Over in Har­ro­gate, prime prop­erty rose by just 0.1 per cent per square foot to £355. The in­crease in Wetherby was 1.5 per cent bring­ing the price per sq ft to £340. In Bor­ough­bridge prices rose by 10 per cent to £275. Thirsk saw a 0.7 per cent gain bring­ing it to £250 per sq ft and Ripon rose by 0.5 per cent tak­ing values to £240 per sq ft.

While prices for prime de­tached prop­er­ties are high­est in Har­ro­gate, it is still the hottest spot with Wetherby a close sec­ond. “Har­ro­gate is still the favourite with buy­ers. It ticks a lot of boxes and the prices there re­flect that,” says Toby.

Ripon, where prices per square foot are about a third cheaper than Har­ro­gate, looks tempt­ing for those who want more “bang for their buck”. The Search Part­ner­ship be­lieves it is “one step away from tak­ing off ” and cites its prox­im­ity to the A1, the Booths su­per­mar­ket and the Cur­zon cinema as key in­di­ca­tors of in­creased gen­tri­fi­ca­tion.

“The prob­lem with Ripon is that there is a lot of ren­tal prop­erty and ten­ants don’t tend to have as much dis­pos­able in­come. The fact it doesn’t have a train sta­tion also puts some buy­ers off but the town is chang­ing and we feel it will take off,” says Toby.

The Search Part­ner­ship re­port also says that the most sig­nif­i­cant in­flu­ences on the hous­ing mar­ket in 2016 were stamp duty and the EU ref­er­en­dum re­sult. The added three per cent tax on buy­ing an “ex­tra” home, in­tro­duced in April last year, has had an ef­fect.

Fears over what Brexit may bring has seen home­own­ers adopt a “stay put and see” ap­proach. The re­sult, says the re­port, is the low­est lev­els of hous­ing stock in North York­shire for over 30 years.

The Search Part­ner­ship pre­dicts that North York­shire will see a three per cent growth in house prices this year.

Tyle­hurst, at Exelby, near Bedale has five bed­rooms and a one-bed­room an­nexe. It is £425,000 with www.robin­jes­sop.co.uk

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