Richmondshire house prices rise by 29 per cent in a year

Property prices in Richmondshire have increased by 29 per cent during the past year, new figures show.

It is the fastest growth in Britain, except Shetland and Orkney, where the sale of a single property can skew the data.

Laura Howey, owner of Catterick-based Love Property, said the latest Land Registry figures came as no surprise.

“We live in one of the most attractive yet affordable areas in the UK with an average house price in Richmond sitting just over £250,000.

“When you compare this to some of the more southern towns in our country this offers excellent value for money.”

Laura said the district also boasted excellent road and rail links, as well as numerous schools rated outstanding by Ofsted.

“It is a no brainer for many families looking for more space and less traffic.

“The pandemic has made many people question their lifestyle and priorities and after being forced to work from home this has now become a preference for companies and employees and has helped many of take leaps towards improving our home life balance and live the way we have all perhaps wanted for a long time.”

James Carver, from Carver Commercial, said they had seen unprecedented levels of interest in properties in Richmond and the surrounding villages.

“With limited supply of new properties coming to the open market and there being continued high levels of demand this has resulted in considerable house price growth over the last year.

“This is coupled with the fact we live in a beautiful region which has so much to offer— it seems the secret is out!”

Brian Carlisle, from Dales-based JR Hoppers and Co, said there were also a number of economic reasons for the increase.

“The Government has pumped loads of money into the economy and a lot of the house buying population have not been able to spend it to due to the lockdowns.

“They have also been saving money due to lower costs because of lockdown, while at the same time many people have been pretty much getting paid their full wages.

“So there’s loads of money in the pipeline — which has been blocked for a long time — and when the Government took their foot off the hosepipe this fuelled a surge.”

Managing director of My Property Box Ben Quaintrell added: “The pandemic has prompted people to reassess their lives and focus on what really matters, home and family. For many, that equates to moving to a rural or semi-rural location.

“This, combined with many businesses and organisations enabling employees to work from home, means it’s no longer necessary to choose between a long commute or having to live close to your workplace.

“It’s no surprise that Richmondshire has seen Britain’s highest increase in property prices, given that it covers a huge swathe of the Yorkshire Dales National Park.”

The other top performing areas were all in North Yorkshire.

Richmondshire had 8,000 homes that grew in value faster the average wage, followed by Ryedale with 7,000 properties (32 per cent) and Hambleton 13,000 properties (29 per cent).