LIVING FOR TODAY

The housing market is an evolving conundrum which affects everybody immensely. Whether you're a tenant, a buyer or a seller, the place you live and its perceived value is imperative to the quality of life. Whilst we all have our own experiences, it can still be a daunting prospect that requires expert assistance. Amongst the global websites and national estate agents, it is reassuring to find a personal firm with local knowledge - so, we asked Ashley Mehr of Churchills in York for some insight into the area's housing market and how to navigate it.

Churchills was formed in 1985 and has always been a family run business - from Robert and Sheila Webb previously to Kevin Webb today. At Bishopthorpe Road and Gillygate, their ethos is indicative of their family background, to provide a more personal service around the properties of York. Ashley Mehr explains the importance; “I think it’s absolutely crucial that agents operate locally and have an understanding of the community. To really be able to speak confidently about the local market you need to know the different micro-markets of a city such as York and its surrounding areas.”

When asked how the property market has evolved in almost forty years of Churchills’ existence, Ash replies; “Well, that’s a fully loaded question! There have been two property market crashes in that time and we’ve weathered both of them. But even in times of turmoil, it’s a market that is always in demand.” The reason for this emphasises the size and continuity of housing in the UK; “Partly, that it represents around 15% of GDP, and also consumers move every 5-7 years” he continues. For almost all of these moves, an Estate Agent is required to assist in the sales or letting process.

Going further back, Ash describes how generational trends are reflected in the way people live; “Over the last hundred years there has been a great paradigm shift in the tenure of households, whether it be Social Housing, Private Rental or Owner/Occupier. The Baby Boomer generation for instance staunchly believed in the concept of owning one’s home - private renting was seen as ‘dead money’. To some, that still is the case today - but there are benefits to renting.” Indeed, many other countries use the greater flexibilty and freedom it can offer to create a renting culture. Ash provides examples of why some prefer this; “Tenants are only tied to their property to the end of the tenancy period as opposed to a substantial financial obligation of a mortgage for a number of years. And they’re not responsible for the costs of maintenancereplacing a boiler or roof for instance costs into the thousands.”

However, for most, the aspiration is still to buy, and without support it has become increasingly difficult for first timers to do this. Ash offers up a more positive outlook; “For buyers, there is an opportunity with cooling property prices expected” he says, and encourages activity even if prices freeze or decline; “Bear in mind this is a long-term investment - according to the Land Registry House Price Index property prices in York have increased on average by 21.28% from November 2020 to November 2022. An owner/occupier home is an asset that can provide you a roof over your head and can appreciate in value.”

Locally, despite the current cost of living concerns, the property market is not static and continues to move; “Since the beginning of 2023, hundreds of properties have sold in the York area” Ash confirms, before explaining the challenge for buyers and sellers to meet each other’s expectations. “The most active price range at the moment is £200-250k which at the point of writing represents 16.2% of sales - yet the price range with most listings coming onto the market is £250-300k. This backs up the idea that the lower to middle of the York property market is where the sales are but the properties coming on to the market are slightly higher in price.” It’s one of the obstacles that for nearly forty years Churchills have had to navigate on the road to where you want to live - it might sometimes seem like a long journey, but York is worth the destination.