A new online tool, as reported in the Yorkshire Post, allows house buyers and sellers analyse buyer demand by post code. PropCast, the first of its kind in the UK, shows the market in terms of temperature with a scale from hot to cold showing how hard or easy it is to make a sale of a property.
Analysis of the Yorkshire shows expected heated areas around the Leeds, Sheffield, Harrogate and York areas. There were cold areas in the Bradford area, Hull, Doncaster and surprisingly areas of York also.
Yorkshire Hot Spots
Yorkshire Cold Spots
S10 – Sheffield: Ranmoor, Fulwood & Crookes
BD1 – Bradford: City centre
S7 – Sheffield: Nether Edge, Abbeydale
HU1 – Hull: City centre
S8 – Sheffield: Beauchief, Norton, Woodseats
BD9 – Bradford: Frizinghall, Heaton
LS4 – Leeds: Burley & Kirkstall Hill
BD7 – Bradford: Great Horton
S20 – Sheffield: Mosborough
BD21 – Keighley
YO24 – York: Acomb & Dringhouses
YO62 – Helmsley, Ampleforth, Kirkbymooreside
S74 – Hoyland near Barnsley
HU2 – Hull: Centre & Wincolmlee
S11 – Sheffield: Sharrow, Brincliffe & Whirlow
DN1 – Doncaster: City centre
S6 – Sheffield: Hillsborough
YO51 – Boroughbridge area
YO31 – Heworth & Huntington
BD3 – Bradford: Thornbury & Laisterdyke
It is thought that the PropCast information will be able to inject some realism and clarity into the property market. The idea is to show the balance of power in each area. In cold areas the buyer holds the upper hand because there is an excess of availability on the market whereas in the hot areas, the seller holds the cards. Therefore sellers in the cold areas may have to rely on selling tactics such as presenting the home in the best condition possible and also providing a competitive price. In hot spot areas, sellers need to be ready to act fast as soon as their property hits the market by obtaining pre-approved mortgages while moving quick with good offers and being prepared to negotiate at short notice.
PropCast information can be found on TheAdvisory website. TheAdvisory is the UK’s oldest independent advice and support resource for property investors. Users can obtain historic trends and displays when inputting a postcode.