Property demand in region growing

Demand for property across Yorkshire rebounded strongly last month after a flat January, in contrast with the UK picture which saw a decline in demand.

The Royal Institution of Chartered Surveyors February residential market survey shows the number of new buyers in the region rose for the 11th consecutive month during February.

A net balance of 29 per cent of surveyors reported interest from new buyers – against just one per cent in January. Despite rising demand, the number of properties coming onto the market in Yorkshire failed to pick up. Last month, 54 per cent more chartered surveyors in Yorkshire saw prices rise with the cost of houses in the region now having gone up for eight consecutive months.

Nationally, demand for homes slumped to its slowest rate since March 2013, as the initial surge driven by the more accessible housing market, started to level off.

Jonathan Charters-Reid, RICS regional spokesman, said: “On the whole, we’re quite confident about the outlook for Yorkshire’s housing market.

“Prices are rising and we’re seeing increasing interest from buyers, thanks to the effects of Help to Buy, the increased availability of mortgages, and a more positive feeling in the market.”

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