Huddersfield Defies UK Housing Slump with a 10% Property Price Surge
A remarkable rise in property values has been recorded in Huddersfield, a market town in West Yorkshire. Defying the UK’s overall downward trend in house prices, the town shows an increase of nearly 10 percent over the past year. This surge translates into an average property price increase of more than £20,000, soaring to £275,438. The data is based on Halifax and Bank of Scotland mortgage approvals for the 12 months leading up to October.
Huddersfield Tops UK Property Growth
Within the past year, Huddersfield and Bradford have seen the most substantial growth in house prices in 2023, with increases of 8.7% and 8.5%, respectively. This growth signifies a boost in house prices of £22,137 and £15,183. In contrast, most other regions in the UK observed static prices, with London even witnessing a slight decrease in its average house prices.
Defying the Trend Amidst Falling UK House Prices
Despite the general decline in house prices across the UK, Huddersfield has managed to buck this trend. This resilience is reflected in the forecasts made by Halifax, suggesting another year of falling house prices in 2024. Mortgage lenders are also predicting a quieter year for home loans, indicating a potential decrease in house purchases.
Property Market Forecasts for 2024
Hamptons anticipates a decrease in property sales, predicting about 23% fewer sales this year. This decline could pose challenges for estate agents, necessitating better training to adapt to the changing market conditions. In response, the Best Estate Agent Guide is launching a marketing campaign promoting the benefits of using an estate agent. In Huddersfield, properties of various sizes are available for rent, with prices ranging from £455 to £1350 per month.
