July 2024 – York Housing Market Update

It’s not “coming home”, which is all I am going to say on that, and now that the General Election has concluded, perhaps we can all get on and enjoy the summer…. Oh wait, we have already had our one-day allocation of sunshine!

Sometimes it can be difficult to see the light at the end of the tunnel with the endless negative media on a plethora of topics, but let me remind you we still have the Bank of England rate review on 1^st August. This is sure to bring some positive news, isn’t it?!? And we have the Paris Olympics to look forward to!

I am hopeful that the Bank of England will action the much-anticipated base rate cut, which is sure to be great news for many home movers. Mortgage lenders seem to be slowly bringing down their rates already with some 5 year fixed deals now below 4%, this is great news for many buyers. If you are thinking of buying this year then I would recommend speaking to an independent financial advisor who will be able to offer you a full insight into the best deals for you.

The housing market in York is still very price sensitive, so sellers should still consider their marketing price and presentation carefully before listing their property, as usually the first couple of weeks of a new property launch brings the most interest. You don’t want to damage the prospects of your sale by pricing your home incorrectly at the beginning of the process, especially as York’s asking prices are 0.5% down year-on-year currently and buyers are able to cherry pick the best properties.  The average time to find a buyer is now down to 56 days in York, we are just below the national average of 59 days.

And finally, a little round-up from us as always…

We are pleased to announce we have won more awards!

Indigo Greens has been awarded the prestigious title of Best Residential Estate Agency 2024 - York by the SME News Business Elite Awards and yet again we have been awarded Gold for sales in the Best Estate Agent Guide 2025.

I would like to thank our fantastic team for continuing to strive to meet the exceptionally high levels of customer service that give our clients confidence in using our service and to go on and recommend us.

I would also like to thank you, our friends, family and clients for all the support you give us and every recommendation you make. Each like, share and comment on our social media posts and person you speak to about us really does make a huge difference and helps shape our small fully independent business and build our personal development. We are eternally grateful.

Enjoy the Summer!

Speak Soon,

Emma