House price and private rent monitor update

House sales have been brisk in west York over the last quarter. Sales have included:

Properties currently available for purchase include

Main Image Newbury Avenue, York, YO24

Newbury Avenue

Chain free properties available for immediate occupation include:

Main Image Westfield Place, York, YO24

Westfield Place

 

Properties recently discounted include

West Thorpe, Dringhouses, York

West Thorpe

Properties for rent include

Ruby Street, York

Ruby Street

 

House prices in York

Several properties in Acomb sold for less than £120,000 recently.

With most people on the housing waiting list seeking one bedroomed properties, these homes represent an opportunity for the Council to add to its stock of socially rented property. They should at least consult home choice registered applicants to see whether the properties would meet their needs.

Recent sales have included

Address Sold price Sold date Type
15, Eaton Court, YO24 3NJ £110,000 31 Jan 2014 1 bed semi-D
10, Invicta Court, YO24 3NN £116,500 20 Feb 2014 1 bed terraced
78, Cornlands Road, YO24 3EA £146,500 31 Jan 2014 3 bed terraced
7, The Knoll, YO24 3EB £140,000 07 Feb 2014 3 bed semi-D
144, St Stephens Road, YO24 3EF £126,000 08 Jan 2014 3 bed semi-D
150, Askham Lane, YO24 3HR £145,000 29 Jan 2014 3 bed terraced
73, Cornlands Road, YO24 3DX £119,000 21 Feb 2014 2 bed semi-D
24, Girvan Close, YO24 2XR £325,000 17 Jan 2014 5 bed detached
29, Troutbeck, YO24 2RE £177,000 24 Jan 2014 2 bed semi-D
2, Ryecroft Avenue, YO24 2RR £201,500 31 Jan 2014 3 bed semi-D

Some larger properties are being advertised for sale

Foxwood Lane
£205,000
4 bed Semi-D
The Reeves
£165,000
5 bed Semi-D
Ashbourne Way
£239,950
4 bed Detached
Alness Drive
£295,000
5 bed Detached

Properties without a chain include:

The Reeves, Acomb, York
£165,000
5 bed Semi-D
Moor Lane, York
£389,950
4 bed Detached
Hamilton Drive West, Holgate, York
£170,000
3 bed Semi-D
Green Lane, Acomb, York
£105,000
1 bed Flat

Properties where the asking price has been reduced include:

Aldersyde
£210,000 -6%
2 bed Flat
Goodramgate
£250,000 -9%
2 bed Flat
Oakdale Road
£230,000 -6%
4 bed Detached
Brecksfield
£165,000 -5%
3 bed Semi-D

The rental market remains buoyant with the following currently available

Westfield Place
£675
3 bed
College Court
£825
2 bed Flat
College Court
£825
2 bed Flat
Tadcaster Road
£3,000
5 bed Detached

£625 pcm Invicta Court, Acomb, YO24 2 Bed Terraced

£675 pcm West Bank, York 2 Bed Flat

The latest House Price Index from Land Registry shows that house prices increased by 0.7 per cent in February.

The annual change in England and Wales stands at 5.3 per cent. In York values have yet to return to 2008 levels.

The number of property sales has increased over the last 12 months.

West York housing market review

Local house sales are picking up.

Selling prices remain competitive in west York with a 1 bed property in Invicta Court recently fetching £99,000, a 2 bedroomed terraced property in Walker Drive going for £112,000, a 3 bedroomed property in St Josephs Court going for £140,750 while a 4 bedroomed property in Huntsman’s Walk reached £190,000.

There are still some bargains around.
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click for details

click for details

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Properties for rent include

2 bed semi in Tedder Road at £650 a month

A 3 bed in Glenridding is advertised at £895

House prices in York

Shelter has issued another report claiming that there are not enough “affordable” homes for families to buy in York.

This is probably true but not to the extent that is claimed.

As with much other research data the figures are bedevilled by the use of average income figures.

It matters little what percentage of properties on the market are “affordable”. The key figure is the gross number available.

The key to whether there are “enough” affordable homes for sale rests with much more simple question.

What income would a family with 2 children need to be able to afford to buy a 2 or 3 bedroomed property in the City?

Foxwood Lane to rent

Foxwood Lane to rent

Terrington Court to rent

Terrington Court to rent

Front Street to rent

Front Street to rent

Crombie Avenue for sale

Crombie Avenue for sale

Hatfield Walk to buy

Hatfield Walk to buy

Bramham Avenue to buy

Bramham Avenue to buy

There are numerous properties currently advertised for under £100,000 in York. Most are, however, flats and are unlikely to appeal to families. (click images right and left for details)

• The cheapest 2 bedroomed house is advertised at £112,500 (Bramham Avenue)

• A similar 2 bed terrace in Kingsway West is advertised for £116,995.

• The cheapest 3 bedroomed house is available in Hatfield Walk for £124,950.

• A 3 bedroomed property in Barkston Close will cost £130,000

• The cheapest 4 bedroomed property can be found in Crombie Avenue for £165,000.

• A 4 bedroomed bungalow in Coniston Close in Rawcliffe is advertised at £177,000

• The cheapest 5 bedroomed property can be found in Osbaldwick Lane for £200,000.

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• On the rental market a 2 bed terrace on Front Street can be had for £495 pcm

• The cheapest 3 bedroomed property is in Terrington Court in Strensall

• The cheapest 4 bedroomed property available to rent can be found on Foxwood Lane at £750 pcm.

It is the price of (privately) rented property that is the biggest issue in York at present.

This is partly influenced by the boom in student lets.

A number of new student halls of residence have recently been given planning permission in the City including the Press site.

There has been a boom in planning applications this year with many brownfield sites set to produce many more homes than were included in the draft Local Plan assumptions.