Yorkshire is the new property hotspot for first-time buyers
27th April 2005

Yorkshire is the most popular place for new home buyers in the UK and is being tipped as the latest property hotspot according to data issued by the Halifax Bank PLC. The statistics reveal that the county lies ahead on the South East and North West in the regions most searched for new homes on the websites with 15.2% of all searches, up from around 9% last year.

Further reflecting the increasing popularity of the area, the Halifax migration monitor, which measures the number of homebuyers moving in or out of an area, shows that Yorkshire is once again near the top of the list with a migration figure of 3.12%, second in the popularity stakes behind the South West at 3.26%.

However the average price of new homes in Yorkshire is relatively low when compared to the rest of the UK. Despite having risen 7% over the last year, prices remain among the cheapest in the country. Low prices combined with increasing demand in the area are leading many commentators to tip Yorkshire as the next property hotspot.

Adam Crosby, Chief Executive of the Halifax, comments: Many parts of the UK have had their fifteen minutes of fame with house price growth and are now experiencing stabilisation. However Yorkshire is widely believed to be one of the areas that has yet to reach its full potential price-wise. With the dual attractions of modern cities such as Leeds as well as rural idylls amongst the Dales, the county is a good bet for strong house price growth over the next year or so with the so-called golden triangle between York, Harrogate and Leeds a likely focus point.