Yorkshire is the cream of the crop

Yorkshire has taken London’s place as the nation’s property hotspot as supply and demand becomes an issue.

The Yorkshire property market has taken London & the South East’s place at the top of the national property table.

The latest figures released by the Land Registry, highlight the fact that the county’s house increases increased by 2.7% in April.

Yorkshire out performed all the other areas of England and Wales, including London which saw a 2.3% increase between March and April. This is still way above the national average which was 0.9%. Wales had the unenviable award of suffering from the largest monthly decrease at 1.1.

Unlike London and the south east though, however, there are currently little signs of the house prices getting out of control in the county.

Comparing this April to last April, the annual house price increase stands at a meagre 3.1%, leaving Yorkshire somewhere just below mid-table nationally, with the average house price standing at £123,471. Despite the lowly increase of 3.1%, when compared to the rest of the country, Yorkshire outshone the rest of the north by quite some way.

The average annual increase in England and Wales was 5.1% with the ever-increasing house prices in London increasing by 10.9%, meaning that the average property price in the capital stands at £474,544.