Manning Stainton estate agents sees huge rise in first time buyers as house prices in Yorkshire rise by 9.3 per cent
Leeds estate agents Manning Stainton has found that house prices across Yorkshire are up by 9.3 per cent.
The findings come after the agent launched its launched its own quarterly house price index to track performance of region’s property market.
In Q1 of 2021 (January-March), the estate agent saw record levels of activity, with sales transactions up 14 per cent on the previous quarter, and up 21 per cent on the same time period in 2020.
The number of properties listed for sale with the agent in Q1 also shot up by 53 per cent compared to the previous quarter, fuelled by the extension of the Stamp Duty holiday.
House prices are also still firmly on the rise, up 9.3 per cent on the same time as last year.
The region’s average house price now stands at £233,727.
First-time buyer activity also increased in Q1 of 2021 – up a huge 108 per cent compared to the previous quarter and 43 per cent higher than the same period in 2020.
Mark Manning, managing director of Manning Stainton, said: “The first quarter of 2021 has been insanely busy, and there is absolutely no sign of things slowing down.
“People are desperate to buy houses that meet their exact needs following months of being locked down at home, and in Q1 of 2021, 49% of the properties we put on the market sold at or above asking price.
“This demonstrates the unquenchable thirst for property across every corner of the market, and the average price achieved by our team in Q1 stood at 99.4% of the asking price. It’s been a record-breaking quarter and I think we’ll see more of the same over Q2.”