It is all change in the property market with volumes of stock noticeably returning by a return in confidence, or in some particular instances arguably a lack of confidence caused by political decisions or indecisions in the residential letting sector and furnished holiday letting businesses.

Major reasons for properties coming on the market in rural North Yorkshire:

  1. Upsizing, downsizing and lifestyle choices
  2. Retirement
  3. Death
  4. A change in circumstances having been widowed
  5. Couples buying together and of course unfortunately breakups
  6. A requirement to live within the catchment areas of good schools
  7. Re-location of employment
  8. A requirement to locate nearer grandchildren
  9. A need to be near hospitals for regular outpatient appointments
  10. Want a second home
  11. To avoid potential double property tax on a second home
  12. Wanting to become a property investor
  13. Rental sector – the undermining of the landlords security of investment due to the potential future difficulty in regaining vacant possession if there is a change of regulation relating to The Section 21 Notice to quit, preventing the right for no fault repossession, therefore making it hard for landlords to cash in their investments and potentially see their values decline.
  14. The furnished holiday letting sector, confidence has been seriously undermined by the political decision to prevent interest being set off against tax in the private sector. Especially difficult for owners of properties that have been restricted to holiday cottage use only. Others may be able to release properties in to the market for sale as private residences.

Major reasons to choose Ryedale to re-locate to.

  1. Areas of outstanding natural beauty, beautiful ancient market towns such as Helmsley, Pickering, Kirkbymoorside and Malton and of course the very attractive villages of Thornton Dale, Sinnington, Lastingham, Harome, Wass, Appleton le Moors, Cropton, Rosedale, Marton, Nunnington, Ebberston, Allerston, Settrington, Hovingham, Ampleforth, Oswaldkirk, Hutton Buscel and many others to boot.
  2. Wide range of activities, golf courses, football, tennis, rugby, athletics, rambling, through to outdoor and indoor bowling. Service Club organisations, such as WI, Countrywomen’s Association, Rotary, Lions and Freemasonry etc.
  3. Generally very good schooling
  4. Good health care, including proximity to Doctors, Dentists, Pharmacies and Vets
  5. Strong communities
  6. Low crime rate being a major attraction

What are buyers generally looking for?

  1. Properties located to suit their own personal needs. With this in mind residences which are proving to be the best sellers are in a good and updated condition.
  2. Properties that are highly sort after that include the above requirements, also have the following attributes: cloakrooms, en-suite bathrooms/ shower rooms, utility rooms, off street parking, garaging and neat and tidy gardens, with neighbours who care for their own properties.

Properties that are sought after and often almost impossible to find, would include for instance substantial houses within Helmsley and with land.

Building plots are very rare as anything that comes up within a village which, is not a service village, is likely to be burdened with a local occupancy clause, therefore these types of opportunities will be restricted as the prices for the land owner are likely to be sub-optimal and therefore may prove unviable or sensible to sell, a change in restrictive planning policy will only release full potential of the supply of plots to the market.

Where are the buyers coming from in North Ryedale?

Buyers are coming from the local community as well as all over the UK.  The pandemic has changed the way people see where they should live, many are now choosing to work from home whether that be full time or part time, this has enabled them to make choices as never before. Also the baby boomers are now retiring and Ryedale in a lot of cases is a good choice for them.  Generally when choosing this area to retire to, most buyers already know the area, they may have been brought up here or have happy holiday memories in the area. It is an excellent area to be relocated to as the Yorkshire coast is easily accessible as is the ancient city of York.

What next?

Good news we believe is now likely to be on the horizon for the home buyer, with inflation falling and with interest rates expected to come down.  We therefore are anticipating June to be a very busy month with above average agreed sales.  If you are looking to sell then why not give us a call to discuss the marketability of your home and find out why it is essential to prepare your property for marketing prior to finding your next home.

Call Peter Illingworth on either 01751 431107 or 01751 475557


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