Primelocation.com says Yorkshire is tops for prime property sales

Dec 22 2009 by Henryk Zientek, Huddersfield Daily Examiner

YORKSHIRE is one of the UK’s top performing region for prime property sales, says a survey.

Figures from Primelocation.com bracket Yorkshire with London and the south-east as the drivers for recovery in the top-price property sector.

Yorkshire and Humber saw prices for to-end properties such as manor houses and barn conversions rise by 9.6% during 2009, according to the survey. That compares with 8.6% for the UK as a whole.

The regional performance was driven by above average price rises in the spring – as Leeds in particular saw an extremely low level of new stock coming on to the market at a time of increasing demand.

London and the south-east retained their places as the leading and most expensive prime property markets with annual price increases of up to 7.9%.

The strong performance was fuelled by a cautious upswing in consumer confidence and bolstered by sustained demand from wealthier UK and international buyers.

The East Midlands also figured strongly with increases of up to 10.9% while Scotland and Wales were also “robust”.

Andrew Smith, head of research at Primelocation.com, said: “The UK’s prime property markets have performed well over the course of 2009 – with strong annual price growth carving a path towards recovery for the wider UK market to follow.”