Kim Harrison, Associate, Head of Residential Property at youngsRPS talks us through the company’s success and regional expansion whilst giving us her insight into the current sales and lettings market across the North of England.
Explain to us how youngsRPS has evolved and expanded over the course of 2021?
Here at youngsRPS, we put our clients at the heart of everything we do. Our dedicated residential teams across the North East and North Yorkshire have been the impetus for our continued expansion with 2021 seeing record growth for us.
The successful launch of our seventh office in Darlington town centre, covering both sales and lettings, means we have strategically placed town centre offices that cover the whole of the North of England, as always these are staffed by highly experienced teams with in-depth local property knowledge. With a progressive approach, harnessing
the power of digital marketing across the leading property websites and social media channels, and liaising with buyers who have registered with youngsRPS – ensures we can continue to guarantee
our customers genuine prospective purchasers.
How do you see the market changing over the coming months?
As predicted, the shortage of properties coming to the sales market coupled with incessant demand for homes in the North of England, means that house prices remain high, although showing signs of stabilisation, UK average selling prices of newly marketed properties increased sales value by 0.3% in September.
The nearing end of the stamp duty holiday doesn’t seem to have put buyers off and those who may have missed out on properties earlier in the year are still eager to make their move hence we would be encouraging vendors who are considering selling their property to come forward. With the average of 5 buyers to one property, you are guaranteed to maximise your properties market value, leading to sales often exceeding well over the asking price.
The rental market, much like sales, continues to rise at their strongest pace in three years, but as international travel re-opens the demand for staycations will begin to slow. Unsurprisingly Northumberland which saw a stratospheric increase in tourism this year, saw a 74% decline in rental properties coming to the market in June/July 2021 compared to the same period in 2019. Those landlords that took advantage of the boom in domestic holidays should look upon this as another opportunity and look to reintroduce longer term tenancies, thus opening the rental market further by reducing the current lack of stock. We constantly monitor all aspects of the letting market and
how these affects all clients, enabling us to anticipate changes affecting landlords, tenants, and investors. Our professional, qualified practitioners devote time to becoming experts in our clients’ properties.