Which region has seen the largest increase in asking prices since the market re-opened?

Asking prices for properties in Yorkshire and The Humber have risen by more than any other region in England and Wales since the market re-opened in May, according to new analysis from Knight Frank.

Related topics:  Finance News
Rozi Jones
13th October 2020
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"The market has been so buoyant due to a huge influx of demand from the south of the country."

The data, which looks at the average asking price for two-bedroom flats and three-bedroom houses across the regions, suggests buyers are prepared to go 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% to £153,354 in the week beginning 28th September from £139,404 in the week starting 18th 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.

A change in asking price does not necessarily show that underlying prices have moved, but Knight Frank says the fact Yorkshire tops the table for flats and houses "by such a clear margin is a trend worth noting".

Emma Hodgson, head of sales at Knight Frank’s Harrogate office, commented: “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.”

Emma added that half of all buyers she is dealing with are from the south, compared to less than a third this time last year.

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