The prime markets of Yorkshire have already begun to benefit from the ripple effect from London and we expect this to continue as an increasing number of buyers move from London to take advantage of the comparatively affordable prices.

However, the prime market is still largely dependent on demand from wealth generated in the local economy. As the recovery that was initiated in London and the South East slowly gains a foothold in the region, we believe that the prime housing market of Yorkshire should begin to benefit from an improvement in local buyer sentiment over the next 12 months.

Realistic pricing While the prime markets are more buoyant than they were previously, headlines of house price growth can give sellers a false impression of the value of their property.

This can create a gap between their expectations and those of the buyers who are sensitive 
to headlines of interest rate rises. Realistic pricing is crucial in order for the country markets beyond York to continue to see increased demand.

There is a slight threat to 
the top end of the market 
around the time of the general election, as the taxation of high value properties is high on the political agenda.

Stamp duty has already increased for properties over 
£2 million and any further changes risks a period of sobriety.

However, our outlook for 
the whole of the prime Midlands 
and North remains positive, 
with a house price forecast of 18.1% five-year growth to the end of 2018.

Taken from
Market in Minutes: Prime Yorkshire