Page 6 - Redbrik: Lifestyle Magazine Autumn and Winter 2018

6
OT THE FROZE ORTH
recognised across the UK as a real shining light.
The property website Rightmove, who accumulate and process thousands of statistics, produces the House Price Index each month and it highlights the strength of the housing market in our area.
Year-on-year, prices in Yorkshire
are up 4 per cent, while the East Midlands has increased by 4.7 per cent – yet despite the increase, the average time taken to sell is down
to just 59 and 54 days respectively. In comparison the annual change in prices in the two regions of London and the South East are down -0.5per cent and -0.1 per cent, with days taken to sell on the increase, to 72 and 63 days.
Annual house price growth of 4 per cent and 4.7 per cent feels
sustainable, especially when we consider that we are still a long way behind other major regions when it comes to our average house price. In Yorkshire and Humberside, the average home is £190,316, while in the East Midlands it is slightly more
at £224,707. Compare this to the South West £303,886, East of England £349,997, South East £405,304 and Greater London £616,501 and there is quite a gap to close.
With prices comparatively low compared with the rest of the UK, our areas suffer less when it comes to buyer affordability and it is clear to see we still have plenty of potential price growth to level out the playing field, as highlighted by Miles Shipside, Rightmove Director:
“Buyer affordability ratios were not stretched to the same degree in the Midlands and the North than
WRITTEN BY
MARK ROSS
MARK.ROSS@REDBRIK.CO.UK
While some areas of the country are flatlining, and even going backwards in some cases, the housing market in our local region looks good and there are big reasons to be positive.
According to the Rightmove House Price Index, the East Midlands and Yorkshire are outperforming London and the South East.
At Redbrik we look after residential property across North East Derbyshire and South Yorkshire, with many diverse and individual markets
within these areas. Those that work in the local market, or have been in the market to buy, sell, rent or let a property, know that our areas are doing really well, but it is now being
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