Property prices surge in Yorkshire


Published: Monday 15th June 2015 by The News Editor

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The cost of buying a property in Yorkshire has gone through the roof, with asking prices at a record high across England and Wales.

Figures from Rightmove show buyers will typically have to fork out almost £174,000 to get the keys to a home in the region – up nearly £6,000 year-on-year – as a growing imbalance between supply and demand pushes prices higher.

It is the biggest increase in property prices seen outside of the South of England, where buyers continue to pay more than anywhere else to either get on or move up the ladder.

Miles Shipside, director of Rightmove, says while there has been an upturn in buyer demand following the election result, there has also been an “unanticipated” post-election fall in the supply of new properties.

Experts had previously thought some potential sellers and buyers had been putting off their plans to move properties until after the general election

But the number of properties listed for sale nationwide is down by 8.5% on a year ago, while May saw a 3.9% fall in the supply of new homes, meaning fewer properties have been listed for sale after the election than before it.

Copyright Press Association 2015

Published: Monday 15th June 2015 by The News Editor

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