Average house prices are on the rise in Wetherby.
As of December last year the average house price in Wetherby stood at £419,093 according to Zoopla.
The area has seen a rise of 3% on the average prices of houses. Ken Bird, Renton and Parr director feels Brexit uncertainty may effect what has been a “flat” year.
“3% is across the board, you’ll find the better houses in better locations which will have risen slightly more.
“What drives house prices is supply and demand. Earnings haven’t kept pace with house price inflation which is a bit of an anomaly”.
Despite recent rises in the market there has been changes in the past year.
“The two major factors at the beginning of the year were always going to play a role, Brexit and new builds, the latter we’ll have to deal with for the next few years.
Wetherby is an area which has seen two considerable housing developments in the last couple of years due to a surge in demand for new homes in the area.
“Now in this area there are thousands of new houses being built”.
The market is particularly tough for first-time buyers, something that Ken doesn’t think will change “It’s no different to what it was twenty or thirty years ago”.