Going up north: it's not just the south seeing demand soar

The south of England is not the only region to benefit as city-dwellers search for more greenery and outdoor space, says Knight Frank.

The agency claims that while areas like the Cotswolds, Ascot and Sevenoaks have predictably risen in popularity, new analysis shows that asking prices in Yorkshire and The Humber have risen by more than any other region since the market re-opened after the spring lockdown. 

Knight Frank claims this suggests some buyers are prepared to go far further afield for better value as they strike a new work/life balance.

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

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

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

“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 she is dealing with are from the south compared to less than a third this time last year, she adds.

Knight Frank comments that the appeal of Yorkshire will also have been boosted by its relative value versus other parts of the country. An average price in July of £171,325 compared to £325,734 in the south-east and £263,353 in the south-west.