YORK
PUlsE
Newgate Market has 120 stalls in a market
square within Europe’s largest single
pedestrianised area situated between The
Shambles and Parliament Street.
DOWNSIDE
Too touristy (approximately 4 million visit
York each year – York residents moan
about the city centre being turned into a
‘visitors’ museum’), and can be considered
provincial compared with its racy
neighbours Newcastle and Leeds. Another
problem is traffic congestion in the city
centre and on the A64 bypass.
PROPERTY – SIGNS OF ACTIVITY
A major aspect in York’s favour is its
central location and unlike many areas in
the UK affected by the property downturn,
the effects of the slump and the suggestions
of a full-scale recession have been less
severe. Although property prices have
fallen in York, they appear to have fallen
less and York can still be regarded as a ‘safe’
investment for property.
In research undertaken for The Sunday
Times last year, Knight Frank pinpointed
the top 20 fail-safe investment towns in the
UK, taking into account factors such as the
affordability of housing, wages and
unemployment in the area, population
growth and how qualified the locals are.
York featured number two on the list, as it
had many of these things going for it: an
attractive, historic town centre, good links
to London and a relatively small supply of
housing stock in heart of the city. Added to
that is the ease with which you can reach
other nearby towns and cities where
people might like to work, but not
necessarily live, such as Leeds.
People buy in York for many good
Also, in addition to creating a solid
market for student lets, the two universities
reasons including its great beauty,
have affected the property market in York.
“It has had a significant impact over the
historic interest, rail links to
years. A science park came here on the
back of it, with tenants such as Smith &
London and excellent schools.’
Nephew,” said Mr Jaram of sales and letting
agents Carter Jonas.
House prices in York have fallen over the
last 18 months in line with the national
SHOPPING centre, the main shopping street being in average (Coalters Estate and Letting
York’s city centre is very compact and the Coney Street area and at The Agents reported about a 20 per cent fall in
‘down town’ York can easily be walked Coppergate Centre, which includes the York). However, e.surv Chartered
within 15 minutes. It has first-class Jorvik Viking Centre. Tourist shops are Surveyors report that sales in Yorkshire
shopping facilities but, as in most large plentiful, although some of them seem to have increased month on month for the
towns and cities, many shops have been have a fairly short life. Good tourist first time in a year and that mortgages also
moving to the out-of-town shopping malls shopping streets are The Shambles, High have been approved at an increased level
and centres such as Clifton Moor and and Low Petergate and Stonegate. for the first time in a long time. The
Monks Cross. However there are still many York boasts the brightest and arguably company believes that York, in keeping
high street multiples in or near the city the best daily open market in the North. with the rest of the country, may be
PROPERTYdrum JUNE 2009 21
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