York and Harrogate homeowners selling to buy in the North East

According to John Coleman, who heads up GSC Grays country house agency, the North East’s prime residential properties are benefitting from the continued move “north” by buyers away from York and London with John predicting that the current “buoyant “market will remain strong despite rising interest rates.

Properties in the £2 million price range are attracting considerable interest from those who have sold in the York and Harrogate areas and who recognise the benefits of moving to North Yorkshire, Northumberland and County Durham.

Properties such as The Grange, a 19th century country house set in 15 acres in Kirkby-in-Cleveland close to the Cleveland Hills and at the gateway to the North York Moors, are coming onto a market that is seeing properties going to closing date for best bids. The North East market is receiving another boost with the Treasury moving to Darlington which benefits from being on the East Coast mainline to London Kings Cross.

Mr Coleman said: "This is as buoyant a market in the prime residential area as we have had for many years. What has changed since the pandemic has been the desire for the countryside with people selling up and moving to areas seen by those in the south as the “north” such as York and Harrogate. Consequently, the people from York and Harrogate are pushing up to North Yorkshire, Northumberland and County Durham. These buyers have sold and are looking to buy in that £1 million -£2 million market which has become more in demand than it ever was.

“The real drivers are those selling well and moving further north to get more for their money and it is a response to the ripple effect of people moving from London.

“The top end of the North East’s prime residential has previously been £2m plus and unless it has been part of an estate it has traditionally been a hard a market to fill. Unless you come from the area or want to return, the pool of buyers has always been relatively small. Where there was a pick-up was in the £1 million to £1.5 million market with money relatively inexpensive and these aspirational properties were causing interest in the villages close to the bigger towns, but it became harder in the rural areas.

“Significantly, in the current prime residential market the majority of properties are going to closing day for best bids. After a 15-20 per cent jump during the pandemic - that is a big rise in our part of the world - it is difficult to see that kind of increase continuing, but it has brought our area to the attention of a wider buying market.

“The move of the Treasury to Darlington has had an impact on West Darlington and the outer villages to a certain price level. The perception of the North and North East has certainly changed in the last two years.”

The Grange, Kirkby-in-Cleveland is currently on the market with GSC Grays, Boroughbridge Office with a guide price of £2,250,000.