Yorkshire Post - Property

House price index and forecast for the region

-

Yorkshire-based estate agent, Manning Stainton, has released its fourth and final quarterly house price index for 2021, which reveals house prices increased by 14% across the year in the areas it serves, which includes Leeds, Wakefield and Wetherby.

The region’s average house price now stands at £245,904, up from £233,727 in the first quarter of the year. The number of sales transactio­ns Manning Stainton handled also increased over the course of 2021, up five per cent on 2020 and 10 per cent on 2019.

One number that did dip in 2021 was the number of new properties being listed with the estate agent, which decreased by five per cent. This highlights that demand is still outstrippi­ng supply, an issue being experience­d across the market.

However, 2022 looks set to see more properties come onto the market, with Manning Stainton experienci­ng a 20 per cent increase in new seller enquirers across December 2021.

First-time-buyer activity was also strong last year, with the number of new first-time buyer looking for homes up 30 per cent on 2020. Good quality family homes continued to remain the most popular property type amongst buyers, with many attracting record numbers of viewings and offers in excess of 10% above the asking price.

Mark Manning, managing director of Manning Stainton, said: “2021 was another exceptiona­l year for the property market.

“Prices will continue to rise over the course of 2022, and I expect that them to grow by five to six per cent by the end of the year.

“What the market really needs this year is more stock. We’ve seen a huge surge in new seller enquirers over the last couple of months, so I’m hoping this will translate to more properties being listed, which will help meet record levels of demand from buyers.”

Newspapers in English

Newspapers from United Kingdom