The housing market for the Beverley area is set for another tough year as economic uncertainties continue to limit any price rises. Despite many government-led initiatives such as the removal of stamp duty, it seems that increased living costs and fears over a rise in interest rates will put many people off buying a new home in 2018.
Last year saw both the number of homes sold and their prices decreasing across the whole of the HU17 area. Compared to a relative high point in 2014, the number of home sales in the HU17 region was at its lowest point since 2009. And when coupled with a sudden drop in prices compared to 2016, it seems that the market is set for a tough year.