Housing rental prices stabilising in York?

The latest ONS figures show that private rental prices of homes in the Yorkshire region have increased by 4% since 2011.

This compares to a 13% increase overall in England (21% in London).

In York rental prices remain high although they are stabilising as more and more purpose built student accommodation units are completed.

Flat in Merton Court advertised for £80,000

Flat in Merton Court advertised for £80,000

A typical 2 bedroomed property in Beaconsfield Street is currently listed at £775 pcm while a non fore-courted property in the neighbouring Milner Street would cost £750 a month. A 3 bed town house on Foxwood Lane is advertised for £775 a month.

A one bedroomed flat on Front Street can be rented for £475 a month

A two bedroomed flat on Albert Close can be rented for £595 pcm

For those trying to get onto the house ownership ladder there are still some bargains are around.

As well as the new flats currently being marketed on Front Street for £125,000 each, recent sales have included two bedroomed apartments in Dringfield Close and St James’s Croft for less than £140,000.

Lowest price currently advertised is for a 1 bed flat in  Merton Court (Windsor Garth) which is listed at £80,000.

House prices in York remain below the national average. Locally prices peaked in 2008 and have – on average – yet to climb back to that level.

House price trends in York

House price trends in York

 

Renting a property privately in York – Letting fee petition launched

high-rent-pricesYork’s property market has been lively over recent months although several new specialist blocks of flats aimed at students are expected to reduce pressure on accommodation this year.

Nevertheless it is disappointing news that the government have decided not to lift the ceiling on the amount of housing benefit that can be claimed in the City. Rather than use the limit which applies to the similarly prices Harrogate area, the government persists in linking York with lower priced Selby.

In effect this discriminates against low paid workers.

On the west of the City a two bedroomed house in Tudor Road is currently advertised for rent at £650 ppm while a similar property in Thoresby Road is advertised for £700 ppm. These are the cheapest properties advertised. Some properties attract rents of over £1000 a month (The maximum housing allowance for a two bedroomed property in York is £536)

Petition on Agents fees

Another problem faced by potential tenants are the fees charged by letting agents. These fees are currently unregulated in England (although not in Scotland) and can vary considerably.

It is not uncommon for “up front” costs of £1000 to be incurred by potential tenants.

The petition organisers say,

“Walk down any high street in England and you could go into five different letting agents who would all charge you a different fee. You have to pay for the privilege of dealing with them, to secure a property and even to change the name on a piece of paper? You’re then also charged an inflated fee for a credit check, which actually costs as little as a tenner.

For instance, the fee charged by one agent to change a name on an existing tenancy is £210. ‘For what?!’ one friend of mine protested recently, before she called them and offered to go in and print off the documents herself.

I have paid as little as £80 and as much as £552 in agency fees on different properties. How is it possible that fees can vary so much from agency to agency? It’s a rip off and the agents are getting away with it”.

The petition has attracted over 225,000 supporters so far and can be signed by clicking here