Opportunities for landowners and property sellers
NORTH Yorkshire Council is asking people and businesses to put forward ideas for development sites for its Local Plan.
James Ellis, Planning Director, Rural Solutions, in Skipton, explains: “As part of the new Local Plan making process, North Yorkshire Council is inviting landowners, developers and the public to put forward potential development sites for consideration.
“Land for various uses including residential, commercial, retail, leisure, regeneration, renewable energy, and environmental or nature-based opportunities is being sought by the council.
“Any sites submitted during this stage, which will last until the end of June, will be considered for allocation for development in the new Local Plan.
"This vital stage in the planning process provides a significant opportunity for landowners to add value to their land and deliver plan-led development by securing allocations in the plan.
"The new North Yorkshire Local Plan will cover a 15 to 20-year period from 2028 so considering call for sites submissions is crucial for those looking to deliver development over this timeframe.”
HOUSE SALES
For those looking to sell a home, the latest Rightmove reports reveals that now offers a good window of opportunity.
The average price of property coming to the market for sale is now just £570 short of May 2023’s record of £372,894, while the annual rate of price growth has increased to 1.7 per cent, the highest level for 12 months. Yorkshire saw a 1.9 per cent rise in asking prices.
A key driving factor behind this growth towards a near-record average asking price is the largest homes in the top-of-theladder sector, which is seeing its strongest start to a year for price growth since 2014.
Overall, Rightmove says it continues to be a much-improved first four months of the year compared to 2023, with the market seeing boosts in buyer and seller activity this spring.
However, estate agents report that despite the rise in prices and general sense of greater optimism, high mortgage rates are continuing to stretch affordability for the typical buyer.
Tim Bannister, Rightmove’s Director of Property Science, says: “While some buyers, across all sectors, will feel that their affordability has improved compared to last year due to wage growth and stable house prices, others will be more impacted by cost-ofliving challenges and stickier than expected high mortgage rates.
"However, it has been a positive start to the year in comparison to the more muted start to 2023, though agents report that the market remains very price-sensitive and these are not the conditions to support substantial price growth.
"Sellers who are keen to secure their sale will still need to price realistically and avoid being overambitious at the start of marketing to give themselves the best chance of finding a buyer.”
He adds: “The summer holidays are typically a time of distraction for some home-hunters. In addition, the Euro 2024 football tournament and the Olympics this summer, likely followed by a General Election will add buyer distractions.
"There appears to be a window of opportunity for those considering a move to act now. While affordability is still tight, property and mortgage market conditions remain stable, buyer choice is good, and many sellers will recognise it is the right time to negotiate on price to get a deal.”