Property market ‘in good shape’

7:09pm Friday 9th May 2008

YORK'S housing market is buoyant and is continuing to buck the national trend.

That's according to a North Yorkshire estate agent which has held a meeting of its staff in the city to discuss how to drive home to people that their homes can be sold - if they priced them realistically.

They say ominous warnings of house-price crashes and owners falling into the negative equity trap are unfounded and that the situation in York is not as bad as many people think.

Peter Illingworth, a partner in Illingworth Wood and Beanland Illingworth, said: "The stories which have been appearing in the national media are destroying people's confidence.

"We understand the market in York is challenging, but what is beginning to happen is that people who see stories about house price problems in London think the same thing is happening in York, when we are in a totally different market situation.

"It needs to be looked at context. In York, the housing market is holding up reasonably well. What we're concerned about is the damage which is being done to our customers and we would ask them to think twice about the national messages which are being put out."

Denise Howard, managing director of York estate agency SmilesAllRound, agrees York is holding its own in the house-price battle - but sellers need to make sure they put their properties up for sale at the right price.

"Compared to the rest of the country, York is doing reasonably well, but many of the stories which have come out nationally mean it becomes a self-fulfilling prophecy. It's a confidence issue," she said.

"People in the York area still want to move and we are finding there are locations in this area which people will want to move to, but properties have to be priced for the market today.

"We are all affected by things which are happening nationally and confidence is one of the key things which is affected.

"The message we are trying to send out is that if you are thinking of buying a house in York, get a decent agent'."

Editor's choice