What will happen to the property market in York and where is the best area for value

Then there’s central Bradford with its splendid architecture funded by Victorian mill magnates and an arts scene that helped the BD postcode areas win the bid to be the UK’s City of Culture 2025.

Not forgetting, as many do, Hull. This port city powerhouse blows visitors away with its views over the mighty Humber, its museums and its trendy Fruit Market district.

Yet it is the City of York that attracts most attention and the most visitors. Its latest accolade comes from a Which? Survey that saw York voted Best Large City for city breaks, thanks to its historic beauty, its Minster, its racecourse and its bars and restaurants .

Specialist travel agent Last Night of Freedom revealed that York is also the hen and stag party capital of Britain, with the number of bookings up by 98 per cent since 2019, the last year figures weren’t affected by the pandemic. This is partly due to the cost-of-living crisis,which has seen groups preferring to stay in Britain rather than travel abroad.

While the proliferation of stag and hen parties have caused concern, due to an increase in rowdy behaviour, they have not put a dampener on buyers’ desire to live in the city.

Edward Stoyle, Head of Residential at Savills,says: “The parties are largely confined to a specific area, including Micklegate, that is largely offices and commercial property and the issues are on Fridays and Saturdays.

“Those who live here tend to eat out early and leave by 8pm to avoid it all and it’s not a problem for those buying because there are lots of central places where you can live and where you won’t be disturbed at all.”

The rear of the Minster is one, further down Marygate and Clifton are quiet along with many other addresses, but it pays buyers to double check before they make an offer on a property.

The party people are not, says Edward Stoyle, enough to put buyers off because the city’s charms far outweigh any disadvantages, which include areas of traffic congestion that you learn to avoid and peak holiday time when you become adept at swerving tourists

The benefits include beautiful historic buildings, riverside walks, a railway station that can get you to London Kings Cross in two hours, top private schools, good state schools and easy access to both coast and countryside.

Buyers, says Edward Hartshorne, managing director of Blenkin and Co. estate and letting agency, include locals who want to move within the area, graduates of York universities who loved the city so much they want to come back, along with people from Leeds, London, the South East and abroad.

For those hunting at the top end of the market, he warns that not all higher end properties for sale are advertised and adds: “Almost 50 per cent of houses we have for sale in central York are privately marketed and are not on property portals so it pays to contact us.”

The recent interest rate rises and cost of living crisis have not had a huge impact on the market here, as yet. “We have a supply and demand issue here, which means there aren’t enough houses for buyers and so for that reason prices and demand remain strong,” says Edward Hartshorne.

He adds that while top-end homes in easy walking distance of the station are much sought-after, some buyers are pushing further out into Fulford, which offers slightly better value, easy access onto the A64 and has a first rate comprehensive school.

The well-served village of Poppleton, half a mile outside York has also become more popular thanks to its rail services to York and Harrogate and its amenities.

Lois Power, Associate Partner at Carter Jonas’ York office, reports: “The market feels a little quieter due to caution over interest rate rises and the economy but the buyers we are seeing are more serious and houses are selling within six to eight weeks provided the price is realistic.”

She adds that most buyers are looking for long-term, family homes, which makes them less concerned about house prices dropping as property is generally a long-term safe bet.

The consensus from all the agents interviewed here is that property prices in York are more likely to plateau and if they do take a tumble it won’t be dramatic.

Prices in York are generally the highest in Yorkshire. A two bedroom terraced house is around £225,000 so many first-time buyers have it hard, especially if they also try to save while renting in the city centre where a one bedroom flat is £1,000 plus per month.

“The best bet when buying is a two up, two down,” says Ben Hudson of Hudson Moody estate agents, who adds that the Burton Stone Lane area is now a good hunting ground as it is up-and-coming.

“The old football stadium site there is being developed with houses, there are shops and easy access to the city centre.”

Picture of York by David Critchley