The average asking price for a property in Yorkshire has soared by 2.9% in the last year, hitting £253,513. This is according to the latest figures from property website Rightmove.

Across the country, the average asking price for a house has inched up by a more modest 0.8%, reaching £370,759. But Yorkshire and the Humber are clearly outpacing the national trend.

So, what’s behind this Yorkshire property boom? Rightmove experts say it’s all about supply and demand. We’re seeing a surge in buyer activity, with 27% more sales agreed compared to this time last year. And with more buyers comes more competition, pushing up prices.

This increased demand is fuelled by a few things, including falling mortgage rates and a greater choice of properties on the market. The number of new sellers listing their homes is up 14% nationally, meaning house hunters have more options to choose from.

Patrick McCutcheon, at estate agency Dacre, Son & Hartley, confirms this trend, saying: “This year the traditionally busier autumn market appears to have started early, which follows a strong summer in Yorkshire.”

He added that the combination of lower mortgage rates and more properties available is “releasing pent-up buyer demand and encouraging more potential movers to act.”

Rightmove’s own property guru, Tim Bannister, points to the recent political stability and the Bank of England’s decision to cut interest rates for the first time in four years as key factors driving market confidence.

So there you have it! If you’re thinking of selling your Yorkshire home, now might be the perfect time to cash in!