Market outlook for YO2
Key indicators for buyers
The YO2 market is moderately favourable for buyers. Prices have softened (-2.8%), which could present a buying opportunity. Affordability has improved from a peak of 8.9x in 2022 to 7.8x today. Rising rents (£1,172/mo, +5.5%) mean the cost of waiting is real.
Price trends
Yearly averages · HM Land Registry Price Paid Data
The average property in YO2 sold for £950,000 in 2023, with a median of £950,000 across 1 transactions. Prices fell 2.8% compared to the previous year.
Affordability ratio
House price ÷ median earnings · ONS data
Affordability data shown for wider York area
A home in York costs 7.8x the local median salary — moderate, improving from a peak of 8.9x in 2022.
Rental trends
Average monthly rent · ONS Private Rental Index
Rental data shown for wider York area
Average monthly rent in York is £1,172, up 5.5% year-on-year. Rents have risen consistently over the past five years.
Monthly mortgage
2yr fixed · 75% LTV · 25yr term · BoE avg. rate
Based on the average York price of £950,000 with a 25% deposit (£238k), a 2-year fixed mortgage at 3.97% costs around £3,749 per month.
Rent vs buy snapshot
Monthly cost comparison based on current data
Uses YO2 avg. price with York rental data
Monthly mortgage payments (£3,749) are £2,577 more than renting (£1,172). However, buying requires an upfront deposit of £238k — it would take around 19792 years to recoup that cost compared to renting and investing the difference.
Recent sales
Latest transactions · HM Land Registry Price Paid Data
| Address | Type | Price | Date |
|---|---|---|---|
AINSTY HOTEL, BOROUGHBRIDGE ROAD YO2 5SQ | Other | £950,000 | 3 Jul 2023 |
HOLGATE BRIDGE HOTEL, 108, HOLGATE ROAD YO2 4BB | Other | £1,405,000 | 8 Nov 2022 |
SCHOOL HOUSE, MAIN STREET, BILBROUGH YO2 3PH | Detached | £550,000 | 23 Feb 2022 |
76, HOLGATE ROAD YO2 4AB | Other | £880,000 | 12 Feb 2019 |
AINSTY HOTEL, BOROUGHBRIDGE ROAD YO2 5SQ | Other | £990,000 | 4 Oct 2018 |
HOLGATE HILL HOTEL, 124, HOLGATE ROAD YO2 4BB | Other | £1,015,000 | 10 Nov 2017 |
109, NUNNERY LANE YO2 1AH | Terraced |
Data sources (all free & public): HM Land Registry Price Paid Data & UK House Price Index · ONS Housing Affordability Ratios · ONS Private Rental Index · Bank of England Quoted Household Interest Rates · HMRC Monthly Property Transactions
Contains HM Land Registry data © Crown copyright and database right 2021. This data is licensed under the Open Government Licence v3.0.