Retirement mortgages in York: Why release equity from your property?
York is renowned for its history and architecture, York is a bustling city loved for its vibrant foodie and culture scene. Located in North Yorkshire and 25 miles to the north east of Leeds, it also has excellent transport links. It is regularly voted as one of the best places to live.
If you invested in bricks and mortar in York some time ago, you will have seen the value of your investment rocket. Property site Rightmove states that the average house price in York in 2021 was just over £307,000. The majority of property sales were terraced homes that sold for an average of just over £307,000. Semi-detached houses sold for an average of £300,000, with flats fetching over £220,000. Overall prices were up by seven per cent from 2020 and 14 per cent on the 2019 peak.
The postcode of YO1, which is York city centre has the most expensive properties, including Purey Cust, which was named as York’s most expensive street in September 2020.
To see how much money you could raise with equity release, please see our equity release calculator.