If anyone had said last spring that property prices were about to skyrocket, even the most knowledgeable housing experts would have been forgiven for raising a sceptical eyebrow. 

When coronavirus arrived on British shores, construction on many new developments temporarily halted and as the housing market faltered and no one was quite sure how the rest of the year would pan out. 

Fortunately, the Government was quick to realise that stagnation was not good for the wider economy and the resulting Stamp Duty holiday encouraged many who had been thinking about a house move to take the plunge.

As a result, while much of the rest of the economy went into reverse, the housing market defied lockdown conditions. According to November’s Halifax House Price Index, the value of the average home had risen by £3,000 on the previous month and since then end of June had increased by £15,000. 

While last year taught us all that nothing is certain, co-founder of V&A Homes, Victoria Denman, believes that while 2021 will be another year of peaks and the odd trough as the true impact of both the pandemic and Brexit becomes clear, in Yorkshire we are well-placed to weather any fluctuations. 

She said: “With unemployment levels forecast to rise and the end of the Stamp Duty waiver there is likely to be a dip in demand for housing nationally at the start of the year. However, I also believe that dip will be both slight and short-lived and in Yorkshire, specifically the county’s Golden Triangle where our developments are concentrated, we may even escape this.”

The triangle, which links the towns of Harrogate and Wetherby and York, has long been a desirable location and increasingly so in recent years as buyers look for homes which offer a blend of city and country living. 

Victoria adds: “By the autumn I can see house prices in these areas on the rise again as the vaccine is rolled out and flexible working becomes the established norm.

“The pandemic has reminded us of how important our four walls are. For many of us home has become our place of work, play, exercise and sanctuary. All our developments are designed with that in mind, which is why I believe that philosophy on which our Yorkshire homes are built will become increasingly relevant to buyers determined to achieve a better work-life balance.”

Author:  Sarah Freeman, V&A Homes