Why York is a UK property investment hotspot

Contact leading UK property investment company ERE Property to find out more about The Gasworks in York.

Tel: 0113 380 8930, Email: david.wood@ereproperty.com

21 Queen St /, Leeds LS1 2TW

The coronavirus pandemic has caused people in the UK and globally to take a long hard look at their lives and lifestyles, with working from home now commonplace.

There is a growing demand for green space and more rural locations as people who used to go into the office every day have found themselves working from home and wanting green space either at home or close by. Companies are not able to say that it isn’t possible to work remotely and so employees are hoping that working from home will become a more permanent arrangement, which means there is no requirement to live quite as close to work.

What this means is that people are looking to purchase or rent properties in places that were not typically commuter areas, and which offer a better life/work balance with green space.

York’s property market shows upturn

Property prices and rents in the historic UK city of York are showing higher than average rises as the city’s property market shows an upturn.

York is a major draw for buyers and renters due to its historic charm and its rail links to Leeds and London.

Visiting York is like stepping back in time, with its timber-framed houses and traditional shopfronts along the city’s well-known streets known as The Shambles giving it a unique charm all its own.

The towering York Minster is one of the biggest cathedrals in Northern Europe as well as being one of the most stunning gothic cathedrals in the world.

York, once called Jorvik, was once the capital of a Viking territory. The city’s Jorvik Viking Centre is a much-visited attraction where you can journey back in time and find out more about the past and immerse yourself in the sights, sounds and smells of the time.

The National Railway Museum is another great pull which covers 300 years of railway history and features one million train-related artefacts.

You can take a boat trip on the river or perhaps visit Bettys York and its famous Café Tea Rooms with gorgeous interiors inspired by the Queen Mary ocean liner.

You may like to take a ghost walk; the Original Ghost Walk of York was the very first ghost walk done in the world! This tour of the city after dark is one of the best ways you can learn about York’s past. Knowledgeable guides will take you down back alleys and into all the hidden places, telling you the tales of some of York’s best-known spooks.

You can also take a walk along the city walls which were built in the 13th century and are the longest town walls in England, stretching two miles on a mainly elevated route around the city. It takes about two hours to walk the total route, taking in stunning views of the medieval buildings, river, rooftops and ramparts along the way.

For anyone with a sweet tooth, York is a real find! Two of the world’s largest chocolate brands, Rowntree’s and Terry’s, were founded in the city and chocolate has been made here for over 300 years. Any chocolate-lover should visit York’s Chocolate Story; here you will learn the history of chocolate making in the city and have the opportunity to sample a selection of yummy delicacies before finishing the tour in the Chocolate Bar.

It really is a gem of a city and it’s easy to see why people are being attracted to live here. The evidence shows how popular York is as a place to live and for people looking for buy to let property investments in the UK.

The average house price in York is now said to be £250,000, with prices rising by three per cent in the last 12 months – ahead of the UK national average of 2.5 per cent. Research shows that demand for homes in the area is up by 28 per cent since last summer.

York house prices have risen cumulatively by 19.4 per cent over the last five years; this is above the UK average of 18 per cent.

This is all good news for property investors investing in York property and there is great news for buy to let investors investing in buy to let property in York.

Rents and tenant demand up in York

The lettings market in this beautiful historic city is following a similar pattern to sales. Rents and tenant demand are up with annual rents rising by 4.5 per cent from July 2019; this is one of the strongest rates of growth across the UK. The number of properties to let has gone up by 11 per cent in the last year, while there has been a 12 per cent increase in tenant demand.

In addition, the short-term let market thrives in York. Being steeped in history and beauty it is righ