YORKSHIRE BUCKS THE TREND: WHAT OCTOBER’S PROPERTY FIGURES REALLY MEAN
You may have seen some gloomy headlines about mortgage rates this month. Rates have risen, and that’s worth taking seriously. But look a little closer at Rightmove’s latest House Price Index and there’s a more balanced picture, particularly here in Yorkshire.
Yorkshire asking prices are rising
This month, new sellers in four of the five lowest-priced parts of Great Britain set lower asking prices. Yorkshire and the Humber was the exception, with asking prices rising by 0.3%. Nationally, the average price of a newly listed home rose by 1.0% to £371,015, broadly level with this time last year.
Homes are still selling
The number of sales agreed nationally is 8% lower than a year ago, but that’s broadly in line with the rest of the year. Rightmove describes sales activity as showing surprising resilience, with deals still being done for the right properties at the right price. That last part matters. Buyers are still out there, but they are paying close attention to value. Getting the asking price right from the start is more important than ever.
More choice for buyers
There are more homes for sale than at any point at this time of year since 2014, and new listings are up 3% on last year. For buyers, that means more choice. For sellers, it means presentation, pricing and marketing make a real difference to standing out.
Mortgage rates: why advice matters
Rightmove reports that the average two-year fixed mortgage rate has risen to 5.55%, up from 5.29% last month and 4.25% in February. For a typical new mortgage, that’s around £250 a month more. An average is just that, though. The right deal for you depends on your circumstances, and that’s where our in-house mortgage advisers can help. Our mortgage team search the market on your behalf, explain your options clearly and help you understand what’s realistic before you start viewing or agree a sale. Whether you are a first time buyer, moving up the ladder or remortgaging, it’s worth having a conversation before assuming the headlines apply to you.
Keeping an eye on the Budget
The upcoming Budget is adding some uncertainty. Some first-time buyers may be waiting for more detail on the Your First Home scheme for new build properties, while others will be considering what any announcements could mean for their finances. We will keep you updated as more detail becomes available.
What this means for you
If you are thinking of selling, local knowledge counts. Our valuers know what’s selling in your area and at what price, so you can come to market with confidence. If you are buying, speak to our mortgage team early so you know exactly where you stand.
Thinking of selling? Book your free market appraisal.
Looking to buy? Register with us and speak to our in-house mortgage advisers about your options.
Figures taken from Rightmove’s House Price Index, October 2026.
