THERE is a huge shortage of homes for sale in Tynedale, with rental properties also in high demand, say local estate agents.

One business has even had to ask would-be buyers to submit best and final offers, such has been the level of interest in a property.

“We have a desperate shortage of properties at the moment and I really don’t know why that is,” said Kim Harrison, valuer manager at youngsRPS in Hexham.

“We are crying out for homes in the £250,000 to £500,000 range in the Hexham area and with homes in the town in particular demand.

“Three of our properties have gone to best and final offers because there has been such interest, which is quite unusual.

“This is being driven by local families moving in and around Hexham but there are also lots of people relocating here from outside the area, which is also pushing up demand.”

This was backed up by Jayne Holland, negotiator at Keith Pattinson’s Hexham branch, who said that a lot of these people were renting after selling their properties elsewhere in the country.

“We’ve seen a lot of people moving up from the south, both retiring and relocating for work.” she said. “They’re finding it’s cheaper here, not so populated and a lot greener.

“We have a good market in this sphere. Some are buying second homes and running it as a holiday home until retirement.

“They want remote rural homes with no neighbours. We’ve been inundated with inquiries about a cottage in Greenhaugh, for instance.”

The Hexham and Prudhoe branches of Keith Pattinson are currently running an advertising initiative trying to attract more landlords.

“We’re desperate for more rentals,” Jayne said. “They are just flying across the spectrum, from one end of the scale to another. We’ve recently completed on properties from £950pcm to £450pcm, they’re moving very fast.”

At youngsRPS, properties are being let out before they’re even advertised, said Kim Harrison: “We have a high demand for rentals. We’re tending to find tenants before the properties even come back on the market.”

Although both rental and sale homes are moving swiftly, one section of the market is sticking - over-priced properties.

Kim said: “In contrast to the rest of the market, overpriced properties are sticking but those priced correctly are attracting lots of buyers.”

And Marc Hydleman, valuer at Keith Pattinson, added: “If properties are priced sensibly by the people selling them, they’re moving fairly easily.

“The bottom end of the market is also moving quickly when there’s no chain involved.”