YorkshIre is fast becoming the county of choice for “offcummed ’uns”, according to new research by Savills.
The analysis reveals the county’s many charms are currently attracting more well heeled buyers from outside the region. The study examined three price brackets and revealed that a quarter of those buying the region’s top properties, priced £500,000 and over, were from outside the county. Seven per cent were from London and 18 per cent from the rest of the UK.
In the £350,000 to £500,000 price range, 22 per cent of buyers were from outside the region with seven per cent from Greater London. There was also an influx from the flat lands of Suffolk to Yorkshire; that accounted for 45 of sales a quarter of those buying homes for £350,000 and under were from elsewhere in the UK. One in 20 was from London. Almost half of buyers were moving up the property ladder, while 14 per cent were downsizing and 13 per cent were buying for investment. Most, 80 per cent, were buying main residences, while 11 per cent were purchasing second homes; eight per cent bought to let.
Ben Pridden, Head of residential at Savills York, said: “Research shows buyers from London and greater London are purchasing homes across all price bands in Yorkshire. London is a major part of many of our buyers’ lives. a large proportion make the move North for a better lifestyle, yet keep a base in London for work in the week or as an investment. This is true at the top end of the market, where a house in Yorkshire will more than likely make up part of a larger real estate portfolio. As a result, many new inquiries for houses over £1,000,000.”