Mark Manning, Director of Manning Stainton in Leeds, Harrogate, Wetherby and Wakefield said: “The market across our region experienced a fairly traditional summer slowdown but interestingly managed to outperform our results from the same period one year ago. There has been a 10% increase in the volume of new seller enquiries over the last 3 months in contrast with the same period in 2016 and a more modest 2% increase in the number of new buyer registrations, but an increase nonetheless. All of this equates to a market which continues to offer good results and steady price growth as we head into the second busy period of 2017. And with a continuing appetite amongst mortgage providers to lend and a relative lack of stock in the market it’s difficult to see how this trend will change in the short term across our region.”
Rightmove’s Head of Lettings Sam Mitchell explains: “Last year the supply of rental properties in London increased as much as 26% when investors rushed to buy ahead of the stamp duty changes, leading to cooling rents over the last 12 months in the capital. Now it appears that rental investors are starting to move their money away from London with a number of agents across London saying that investors are being replaced by first-time buyers. This is likely to constrict rental supply in the capital and lead to rents increasing again, so now would be a good time for prospective tenants to act, before this happens.”
This trend of investors looking to the north has been widely reported in a plethora of property investment articles recently, one being '5 places tipped to be buy-to-let property investment hotspots in 2017' on the BT lifestyle website which sited Manchester, Leeds, Hull, Stockport and Inverness as their top areas for investment.
Redbrick Properties was established back in 2002 and since then has gone from strength to strength building up a fine portfolio of residential properties along the way.
We could never be accused of being a faceless agency as both Mark and I still work front-line in the office along side our experienced and capable staff.