York in top ten most searched-for areas by home buyers as house prices rise to new high
York was one of the most searched-for areas by home-buyers in 2022, it was revealed today (Wednesday).
The data comes from property website Rightmove.
It means pressure on the city’s housing market is continuing to propel house prices ever higher.
Homebuyers’ most searched-for areas
1. London
2. Cornwall
3. Devon
4. Bristol
5. Glasgow
6. Manchester
7. Edinburgh
8. Sheffield
9. York
10. Cambridge
Source: Rightmove
According to Rightmove, the average price of a home rose in York to £317,671 over the last year.
The majority of sales in York during the last year were semi-detached properties, selling for an average price of £309,173.
Terraced properties sold for an average of £310,978, with flats fetching £220,843.
Overall, sold prices in York over the last year were up 2% on the previous year and 16% up on the 2019 peak of £274,584.
National forecast
Nationwide Building Society says that the housing market may achieve a “relatively soft landing” next year, with activity stabilising modestly below pre-pandemic levels and house prices edging lower, perhaps by around 5%.
Robert Gardner, Nationwide Building Society’s chief economist, said: “For the first three-quarters of 2022, the housing market was remarkably resilient.
“For much of the year, activity levels remained at or above pre-Covid levels with annual house price growth in double digits, despite intense pressure on household finances from surging inflation and a steady rise in mortgage interest rates.
“Between January and August, the average UK house price increased by almost £20,000, from £255,556 to £273,751.”