Yorkshire sees largest increase in property asking prices | Mortgage Introducer

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The data looked at the average asking price for two-bedroom flats and three-bedroom houses across regions.

The average asking price for a two-bedroom flat in Yorkshire rose 10% to £153,354 in the week beginning 28 September from £139,404 in the week starting 18 May.

Asking prices for two-bedroom flats in London fell by 4% over the same period.

For three-bedroom houses, Yorkshire also experienced the biggest rise over the same period, increasing 8.4% to £186,045.

Emma Hodgson, head of sales at Knight Frank’s Harrogate office, said: “The market has been so buoyant due to a huge influx of demand from the south of the country.

“Whereas the South West of the country has a pull as a tourist destination, many buyers are coming to Yorkshire due to family connections.”

Half of all buyers Hodgson is dealing with are reportedly from the South compared to less than a third this time last year.

The appeal of Yorkshire will also have been boosted by its relative value versus other parts of the country, with an average price of £171,325 in July compared to £325,734 in the South East and £263,353 in the South West.