Matthew Hendry, managing director at Naish Estate Agents, told The Press the business is up, in terms of takings and instructions, compared to last year.
“I think most estate agents will agree it’s busier this year than it was last year,” he said.
Mr Hendry said there are more properties for sale in the city this year compared to 2024.
He described York as an “extremely price sensitive market” but said: “If you price it right and the advertising is strong, the interest is there.”
Despite mortgage rates continuing to increase across the UK, there has been “less uncertainty” in the York market, he said.
Property website Zoopla suggested that some buyers in England and Northern Ireland are attempting to beat a stamp duty hike, which will see the “nil rate” band for first-time buyers reduce from £425,000 to £300,000, by purchasing properties before April 1, when the changes come into effect.
But Mr Hendry said the stamp duty changes “haven’t made a huge difference” in York.
They have, however, “killed the investor market”, he said.
“There are not as many investors out there hoping to purchase – and if they are, they’re having to negotiate harder.”
He added that the financed investor market for property “is quieter due to regulations and high costs ” in York.
‘A lot of landlords are looking to sell their property, which means rent is rising’
In terms of the rental properties, Mr Hendry said the market is “fairly strong”.
But, he said, rental prices continue to increase in the city and fewer properties are available to rent which is having an impact on tenants.
“A lot of landlords are looking to sell their property, which means rent is rising.”
Mr Hendry said rising costs and taxes have resulted in smaller landlords deciding to sell up.
“If you worked hard to own a second property to rent out, often now, the risk isn’t worth the reward,” he said.
As a result, fewer properties are available in York which has pushed rental prices up across the city.
“There are more people coming to view each rental and often bidding against each other,” Mr Hendry said.
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He added that landlords are being “forced” to increase rent prices due to the changes to stamp duty and mortgage rates.
“If they don’t [increase rent], they’re making a loss,” Mr Hendry said. “If a landlord has a property that doesn’t make them money or costs them money, they’re going to be forced to sell.
“A lot of landlords are not wealthy; they just have a property to rent out.”
Meanwhile, Mr Hendry said a lot of leasehold properties in York are “almost unsellable” due to regulations for ground rents.
“If you have a leasehold, the ground rent can double or change significantly,” he said. “The lenders are really scared of that.”