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Yorkshire prices rise as it toughs out Brexit

While the outcome of Brexit hangs in the balance, the latest research by online agent Housesimple shows that house prices have risen by 10.25 per cent in Yorkshire since the EU Referendum in June 2016.

Yorkshire house prices have remained resilient since the EU vote and was fifth best performing UK region for house price growth over the past three and a half years.

Analyzing average house prices changes in 324 English Local Authority Areas, Housesimpl found that, in general, leave voting areas across the UK recorded higher average house price increases than the remaining voting area.

Back in June 2016 Yorkshire voted in favour of leaving the EU, with a majority vote of 57.70 per cent. This was the fourth largest majority vote across the UK regions.

Top performing areas in Yorkshire since the Brexit vote include Leeds (13.8 per cent) and Wakefield (13.2 per cent). Of the top performing authorities, all except Leeds voted to leave the EU.

Hambleton, which includes Thirsk and Easingwold, has experienced the slowest house growth post-referendum, with prices in the region by 1.02 per cent during this period. Doncaster and Harrogate have also seen steadier growth patterns, with house prices rising by 5.24 per cent and 5.70 per cent respectively, according to Housesimple.

Sam Mitchell, CEO at Housesimple, said: “Correlation does not always equal causality. Just voting leave hasn’t made house prices rise in Yorkshire on its own, there are a range of reasons driving house prices in this region. The data points to an overall North-South divide. Brexit uncertainty does not appear to have affected the North to the extent that it has in the South.”

Adapted from Yorkshire Post

https://www.yorkshirepost.co.uk