21 Jun

Houses for sale in Yorkshire may be cheaper than south

Houses for sale in Yorkshire may be cheaper than south

Househunters looking for property for sale in Manchester and other northern areas have been told that affordability in the north is better for first time buyers.

Richard Horner, northern south sector regional executive for the National Association of Estate Agents (NAEA), suggested that buyers who are looking for an opportunity to get on the property ladder for the first time will have a far better chance of securing a home in the north than the south.

However, he noted that people seeking houses for sale in Yorkshire and elsewhere in the north should ensure they already have employment secured, as there is a lack of availability of good jobs in the region.

If this can be achieved, Mr Horner said buyers will find there are a number of benefits to heading north apart from lower house prices.

"[In the north] the cost of living is cheaper, the cost of renting office accommodation is cheaper, and the cost of buying office accommodation is cheaper," he said.

"As a consequence we have got fantastic towns and cities within the northern area that would welcome a migration from the south to the north and for [people] to enjoy the benefits of not only of the towns and cities but also the splendid countryside that we have got surrounding us."

First time buyers considering acting on this advice might be encouraged by the latest figures from the Council of Mortgage Lenders, which stated that lending to this segment of house buyers increased by eight per cent in April.

A total of 15,800 loans were approved for first time buyers in April, compared with 14,700 the previous month, suggesting that lending conditions may be easing after a long period of strictness.

"The market continues on a stable footing and the increase in house purchase lending is a good sign that the stability will continue," said Michael Coogan, CML director general.ADNFCR-1222-ID-800583955-ADNFCR

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