Huddersfield is a ‘house price hotspot’ where the average property rose in value by just under 9% last year, it is claimed.
Mortgage provider Halifax found that house prices in Huddersfield grew at the fastest rate in the UK last year despite a national downturn. Huddersfield, along with Bradford, had bucked the national trend said Halifax. Homes in Huddersfield went for 8.7% more – an extra £22,000 – in the year up to October, compared with the previous year.
The average house price in Huddersfield last year was said to be £275,438 which represented a growth of 8.7 per cent. The biggest fall in house prices was in Stoke-on-Trent – down 15 per cent or £30,978.
Kim Kinnaird, the director of Halifax mortgages, speaking in December, said: “Buying a home in Huddersfield or Bradford may well have cost considerably more in 2023 than it did last year, but that’s not the case in Stoke-on-Trent, for example, which might now be offering better value for money.”
However, claims of a house price boom in Huddersfield have been challenged by local estate agent Paul Keighley of Bramleys. He said: “The Halifax report does not reflect what we are seeing locally, we have not seen any tangible increase in prices over the last 6-9 months. There are buyers out there, but they are being more cautious on what they will offer, and vendors are having to be more realistic in what figure they will accept.
“As inflation reduces this will give the Bank of England some confidence to reduce the base rate sooner than later. We are already seeing lenders reduce their rates, some by more than 1% since September, this should give buyers confidence now to return to the market as it looks like rates have peaked and are now becoming more affordable.”
Mr Keighley said Huddersfield has always been popular with house buyers thanks to its location. Adding: “It has always been a popular location as we are fairly central, and an easy commute for Leeds and Manchester. Hopefully the improvement in the rail links will benefit the town going forward.”
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