Saturday, 22 August 2026

The Huddersfield Property Ladder: Where the Biggest Price Jump Really Happens

We often talk about the average price of a home in Huddersfield, but that single figure can hide more than it reveals.

A one-bedroom flat, a three-bedroom family home and a substantial four-bedroom property serve completely different buyers. Combining them into one town-wide average does not tell us how the local property ladder is shaped, or how much buyers have historically paid to move from one rung to the next.

Looking at completed property sales split down by bedroom and price in Huddersfield since 1 January 1995 gives us a much clearer picture. During that period, 52,719 homes were sold across Huddersfield. Of those transactions, 2,398 were one-bedroom homes, 16,193 had two bedrooms, 23,654 had three bedrooms and 10,474 had four bedrooms or more.

(Huddersfield – HD1-5, HD7-8)

These figures are based on homes that actually sold. They are not estimates of what the properties are worth today, nor are they current asking prices. They show the average prices paid by buyers across completed transactions since the beginning of 1995.

What type of homes make up the Huddersfield property market?

The mix of homes sold in Huddersfield can be compared with the national housing market to show whether the town is weighted more heavily towards smaller properties, mid-range family homes or larger executive houses.

In Huddersfield, one-bedroom homes represented 4.5% of sales, while the national figure is 7.38%. Two-bedroom homes made up 30.7% of the local market, compared with 25.98% nationally. Three-bedroom homes accounted for 44.9% of sales in Huddersfield, against the national benchmark of 46.06%. Finally, homes with four bedrooms or more represented 19.9% of Huddersfield sales, compared with 20.58% nationally.

As you can see, there is slight a difference between the local mix and the national mix.

What have buyers historically paid for their Huddersfield homes?

Across completed sales since January 1995, the average price paid for a one-bedroom home in Huddersfield has been £104,310. The average paid for a two-bedroom home has been £123,095, while three-bedroom properties sold for an average of £150,227, and for homes with four bedrooms or more, the average price paid has been £266,046.

Again, these figures should not be read as current valuations.

A home bought in 1995 forms part of the same dataset as one purchased much more recently. The figures instead provide a long-term picture of what buyers have paid for different sizes of property. The more revealing numbers are the gaps between them.

Where is the biggest price jump in the Huddersfield area?

In Huddersfield, the average price paid rises by 18.0% when moving from a one-bedroom home to a two-bedroom home. Nationally, the equivalent increase is 25.6%. The jump from two bedrooms to three bedrooms is 22.0% in Huddersfield, compared with 26.8% across the country. Moving from a three-bedroom home to a property with four bedrooms or more produces an uplift of 77.1% locally, against a national increase of 46.8%.

These figures do not suggest that one type of home offers better or worse value. They simply show how the average prices paid have differed between each rung of the property ladder since January 1995. The gaps/mix reflects the type, location, and quality of homes sold within each bedroom category.

How the Huddersfield postcode districts compare.

The Huddersfield average provides the main picture, but the local and surrounding area property market can vary significantly between postcode districts.

  • HD1 - 11.5% of sales were one-bedroom homes, 44.6% were two-bedroom, 28.7% were three-bedroom and 15.1% had four bedrooms or more. Average prices paid were £134,434 / £86,354 / £108,441 and £165,895 respectively.
  • HD2 - 3.3% of sales were one-bedroom homes, 27.5% were two-bedroom, 45.2% were three-bedroom and 24.0% had four bedrooms or more. Average prices paid were £79,570 / £92,432 / £135,178 and £255,770 respectively.
  • HD3 - 5.6% of sales were one-bedroom homes, 30.4% were two-bedroom, 47.2% were three-bedroom and 16.8% had four bedrooms or more. Average prices paid were £96,733 / £113,923 / £160,885 and £258,751 respectively.
  • HD4 - 4.4% of sales were one-bedroom homes, 34.6% were two-bedroom, 45.3% were three-bedroom and 15.7% had four bedrooms or more. Average prices paid were £86,699 / £101,057 / £133,197 and £269,227 respectively.
  • HD5 - 3.8% of sales were one-bedroom homes, 35.9% were two-bedroom, 46.2% were three-bedroom and 14.1% had four bedrooms or more. Average prices paid were £108,693 / £106,896 / £135,234 and £223,215 respectively.
  • HD7 - 4.0% of sales were one-bedroom homes, 25.8% were two-bedroom, 55.5% were three-bedroom and 14.7% had four bedrooms or more. Average prices paid were £91,101 / £126,227 / £151,740 and £287,387 respectively.
  • HD8 - 2.2% of sales were one-bedroom homes, 22.9% were two-bedroom, 40.8% were three-bedroom and 34.2% had four bedrooms or more. Average prices paid were £115,479 / £243,188 / £192,666 and £303,057 respectively.

The figures show that there is no single Huddersfield property market.

Different parts of the town contain different mixtures of homes, attract different buyers and create different price jumps between bedroom categories. For Huddersfield homeowners, this is why broad national headlines and even regional and town-wide averages should always be treated as a starting point rather than the final answer.

The value and saleability of an individual home will depend on its condition, location, style, plot, presentation and the strength of current buyer demand. However, the historic sales data does reveal something valuable. It shows the structure of the Huddersfield property ladder, where most local transactions take place and, most importantly, where buyers have historically faced the biggest jump when searching for their next home.

Share your thoughts on your story of climbing up the property ladder. Was it worth it? Did it change your life? Would you do it again?

Saturday, 15 August 2026

Why a Huddersfield House Price Crash Looks Increasingly Unlikely

 

Every few weeks, another headline appears warning that house prices are about to crash.

The reason changes each time. One month it is mortgage rates. The next it is inflation. More recently, geopolitical tensions and uncertainty in the Middle East have been blamed for higher borrowing costs and weaker buyer confidence.

 

Yet despite all these predictions, the housing market continues to frustrate the pessimists.

That does not mean the market is booming. It is not. Homes are taking longer to sell than they did during the post-pandemic frenzy (91 days in 2026 vs 55 days in 2022). Buyers are more selective, whilst sellers face more competition (746k homes on the market today in the UK vs 481k in July 2021). There is a huge difference between a market slowing down and a market crashing.

 

And that distinction matters. House price crashes are not normally caused by higher mortgage rates and distressed home sellers. That was the defining characteristic of the housing downturn between 1988 and 1992 and again between 2007 and 2011. It was not simply that borrowing became more expensive. It was that large numbers of homeowners were forced to sell. Repossessions increased, job losses rose, credit became harder to obtain, and so the supply of properties on the market overwhelmed demand (people able to buy).

 

To judge the situation, I must look at two things. Unemployment and the property market:

 

1. Unemployment in Huddersfield

 

The key indicator is the unemployment figure for the Huddersfield constituency which is 5.9% (and it was 6.1% twelve months ago). Nationally, it's 4.9%. This is up 0.3% on the year but down 0.3% on the latest quarter.

 

2. Property Market in Huddersfield

 

There are 1,669 homes for sale in Huddersfield, of which 732 are sold subject to contract (SSTC). That means over two in every five homes (43.9%) being marketed has already found a buyer. That is a sellers’ market.

 

Yet despite that increased choice, buyers are still buying.

The challenge is that sellers are having to work harder to attract buyers. The average Huddersfield home currently takes around 81 days from coming to market to finding a buyer (SSTC). That feels slow compared with the extraordinary conditions seen in 2021 and early 2022, but it is not evidence of a collapsing market. Instead, it shows a more normal market where presentation and pricing matter, and where buyers can compare one property against another. The number of price reductions is perhaps the most telling statistic.

In the last month, approximately 15% of homes on the market in Huddersfield have reduced their asking price. Some commentators interpret this as evidence that a crash is beginning, yet I disagree. Firstly, this level of reduction is normal for our local market and has been the case for the last 5 years. Secondly, price reductions are not a sign of distress. They are often a sign that sellers started too high in the first place. There is a significant difference between a Huddersfield homeowner deciding to reduce their asking price by £10k to secure a buyer and a homeowner being forced to sell because they cannot pay their mortgage. One is market adjustment; the other is distress. And right now, there is very little evidence of widespread distress.

 

So, what will happen to the Huddersfield property market?

Housing markets behave so differently from stock markets. Shares can rise or fall dramatically in a matter of hours, yet property markets rarely do so. Instead, they tend to adjust by reducing transaction volume, lengthening sales cycles, and becoming more price sensitive.

The adjustment process is like stopping a supertanker. Slow, gradual and, frankly, rather boring. That may not make for exciting headlines, but history suggests it is far more common than sudden nationwide price crashes.

Another factor often overlooked is affordability. Many people assume affordability can only improve if house prices fall. That is not necessarily true. Affordability can improve through wage growth or inflation that reduces the real value of housing costs over time. It can also improve with modest house price growth, rising incomes, and mortgage rates gradually easing in the years ahead.

In fact, much of what we have witnessed over the last two years has been exactly that. Huddersfield house prices have broadly moved sideways whilst incomes have continued to rise. The result is a slow and steady improvement in affordability without the dramatic correction many commentators have predicted.

 

For Huddersfield homeowners considering a move, this creates an important dilemma.

Many are waiting for mortgage rates to fall. Others are waiting for prices to rise. Some are waiting for a crash that may never arrive. Yet life rarely waits for perfect market conditions.

People move for jobs, schools, retirement, growing families, divorce, downsizing, and countless other personal reasons. The property market simply provides the backdrop. The lesson from history and today's Huddersfield market data is simple.

 

House price crashes require distressed sellers

 

And right now, there is little evidence that Huddersfield has enough distressed sellers to create the sort of collapse that many commentators continue to predict. That does not mean every home will sell quickly. It does not mean every asking price will be achieved, and it certainly does not mean Huddersfield home sellers can ignore the competition.

But it does suggest that the most likely outcome for the Huddersfield property market over the next few years is not a dramatic crash.

Instead, expect a market that keeps moving forward, with modest adjustments rather than sudden drops, one carefully priced home at a time.

 

Saturday, 8 August 2026

Huddersfield Homes Are 7.1% Smaller Than the UK Average

When people talk about the property market in Huddersfield, the conversation normally centres on house prices. Yet price is only part of the story. The size of a home matters too. A £300,000 home in one part of the country may offer significantly more space than a similarly priced home elsewhere. Even within the same town, the average floor area can vary noticeably between postcode districts and property types. Using newly availably floor-area data for homes across Huddersfield, we can compare the average size of local properties with the UK average and then look more closely at detached homes, semi-detached homes, terraced houses and flats.

The Average Home in Huddersfield is 954 sq.ft

The average home in Huddersfield has a floor area of 954 square feet.

That compares with a UK average of 1,030 square feet. This means the typical Huddersfield home is 7.1% smaller than the national average. Of course, an overall average only tells us so much. The mix of properties in a town can have a major influence on the figure. An area with a high proportion of flats and terraced houses will naturally record a lower overall average than one dominated by larger detached and semi-detached homes.

That is why it is useful to examine each property type individually.

(Huddersfield being HD1-5, HD7-8).

The Average Detached Home in Huddersfield is 1,471 sq.ft

Detached homes are generally the largest properties in the housing market, and Huddersfield is no exception. The average detached home in Huddersfield measures approximately 1,471 square feet, compared with a UK detached average of 1,511 square feet. That puts local detached homes 2.7% below the national average.

The figure will often reflect the age and character of the local housing stock. Older detached homes may offer larger rooms, wider plots and more generous layouts, while newer developments can sometimes provide more efficient but smaller floorplans. For buyers, this comparison can help show whether Huddersfield offers more or less space than they might expect elsewhere in the country.

 

 

The Average Semi-Detached Home in Huddersfield is 980 sq.ft

Semi-detached homes make up a significant part of the British property market and are especially popular with families. The average semi-detached home in Huddersfield has a floor area of 980 square feet. The equivalent UK average is 1,043 square feet.

That means the typical semi-detached property in Huddersfield is 6.1% smaller than the national norm. Again, averages can hide considerable variation. A 1930s semi-detached home may be much larger than a modern equivalent, particularly where properties have been extended into the loft, side return or rear garden.

The Average Terraced Home in Huddersfield is 885 sq.ft

Terraced homes are often among the most varied properties in any town. Some are compact workers’ cottages, while others are substantial Victorian or Edwardian homes with generous rooms and high ceilings.

Across Huddersfield, the average terraced home measures 885 square feet. The UK average for a terraced property is 969 square feet. That leaves Huddersfield terraced homes 8.8% below the national average.

This is one area where postcode-level analysis becomes particularly useful. One district may contain mainly smaller two-bedroom terraces, while another may include larger three and four-bedroom period homes.

The Average Flat in Huddersfield is 597 sq.ft

The average flat in Huddersfield has a floor area of 597 square feet, compared with a UK average of 669 square feet. That makes the typical local flat 10.7% smaller than the national average.

The result can be influenced by whether the local market is dominated by purpose-built flats, converted period homes, retirement apartments or newer town-centre developments.  Flats can therefore vary considerably, even within a relatively small geographical area.

How the Huddersfield Postcode Districts Compare

The next step is to look beneath the overall town average.

Huddersfield includes several postcode districts, and the average property size in each can differ significantly.

  • HD1 ... Detached - 1,533 sq.ft/Semi -Detached - 1,222 sq.ft/Terraced - 1007 sq.ft /Flat - 542 sq.ft
  • HD2 ... Detached - 1,498 sq.ft/Semi -Detached - 932 sq.ft/Terraced - 916 sq.ft/Flat - 572 sq.ft
  • HD3 ... Detached - 1,393 sq.ft/Semi -Detached - 962 sq.ft/Terraced - 857 sq.ft/Flat - 608 sq.ft
  • HD4 ... Detached - 1,446 sq.ft/Semi -Detached - 906 sq.ft/Terraced - 810 sq.ft/Flat - 547 sq.ft
  • HD5 ... Detached - 1,372 sq.ft/Semi -Detached - 895 sq.ft/Terraced - 822 sq.ft/Flat - 569 sq.ft
  • HD7 ... Detached - 1,523 sq.ft/Semi -Detached - 999 sq.ft/Terraced - 886 sq.ft/Flat - 698 sq.ft
  • HD8 ... Detached - 1,529 sq.ft/Semi -Detached - 946 sq.ft/Terraced - 900 sq.ft/Flat - 646 sq.ft

These differences are often explained by the type and age of homes found in each district. One postcode may include more detached family houses, while another may be made up largely of terraced and flats. For homeowners, the postcode comparison provides a much more meaningful picture than a single town-wide figure.

Why Size Matters (with a property!)

Floor area is not the only factor that determines the value or appeal of a home, but it is an important one. Buyers increasingly compare not just asking prices, but the amount of space they receive for their money. Two homes with similar prices can offer very different levels of accommodation.

Understanding the average size of homes in Huddersfield can therefore help sellers position their property more accurately and help buyers understand how local homes compare with the wider UK market. It also shows why property values should never be judged on postcode or bedroom count alone. A large two bedroom home may offer more space than a compact three-bedroom property, while an extended semi-detached home may compare favourably with a smaller detached house.

The average Huddersfield home may be smaller than the UK average, but the headline figure only tells part of the story. The real insight comes from comparing individual property types and then examining how the figures change between local postcode districts and even postcode sectors. That gives Huddersfield homeowners and buyers a clearer understanding of the local property market and, most importantly, how much space local homes actually provide.

What are your thoughts on this?

 

 

Saturday, 18 July 2026

Huddersfield Property Market: How Q2 2026 Compared with the UK

As an agent in the Huddersfield property market, I believe it is important to offer local homeowners a balanced and realistic view of both the Huddersfield and national property markets. Far too often in the last few years, national newspaper and social media headlines have focused on doom and gloom, creating the impression that the housing market is on the verge of collapse. Yet when you look beyond the headlines and examine the actual data, a rather different picture emerges. We are going to compare Q2 2026 against Q2 2025 and Q2 2023. Why? Well, 2025 was deemed to be a good post-pandemic market and 2023 was a tough post-pandemic market.

National Homes for Sale

One of the ways to assess the health of the British property market is to look at the number of new properties coming onto the market. In the second quarter of 2026 (April, May and June), 488,933 properties were listed for sale across the UK. Interesting when compared to the 484,974 in Q2 2025 and 411,927 in Q2 2023.

The average asking price of a UK property coming onto the market in Q2 2026 was £447k, compared with £449k in Q2 2025 and £436k in Q2 2023, so not a big change either. The level of new instructions/listings entering the property market is an important barometer of market health.

Yet during the financial crisis of 2008, the number of homes coming onto the market surged tremendously, tsunami like, creating a significant imbalance between supply and demand and contributing to falling house prices. Therefore, whilst monitoring the volume of new listings is an important indication of market conditions, one also needs to measure the number of homes available for sale and the number of homes being sold subject to contract.

National homes on the market and the number of homes sold

The average number of homes for sale in the UK in Q2 2026 was 746,300, very similar to 743,100 in Q2 2025, yet much higher than the levels seen in Q2 2023, when 605,500 UK homes were for sale (for context, it was 1.3m in Q2 2008).

Now, let us look at the demand.

In Q2 2026, 311,678 homes sold subject to contract (STC) across the UK for an average price of £369,256. In Q2 2025, the number of homes sold STC was slightly higher (4.9%) at 327,023, albeit with a very similar average sale price of £366,785. Yet when we look at Q2 2023, only 283,817 homes were sold STC, again with a very similar average sale price of £365,111.

So, on the face of it, Q2 2026 has been better than Q2 2023

for the number of homes sold STC.

Until one realises that even though there has been a 9.82% increase in UK house sales between Q2 2023 and Q2 2026, the number of homes for sale has increased by 23.3% over the same time frame.

The UK property market is still active and buyers are still buying, but there is a big catch: a smaller proportion of the available properties are finding a buyer. That means sellers are facing much greater competition, and simply coming onto the market is no guarantee of a sale.

In this sort of market, realistic pricing is not merely helpful, it is everything. The homes that are correctly priced from day one are the ones attracting attention, generating viewings and securing buyers, while those launched too high risk becoming part of the growing stock that sits unsold.

So, now, let us look how the Huddersfield property market has fared over the same period.

Huddersfield Property Market Specifics

Locally, in Huddersfield (covering the HD1-5, HD7-8 postcodes),

Starting with supply of properties coming onto the market, 1,071 new listings came onto the market in Q2 2023, 1,209 in Q2 2025 and 1,189 in Q2 2026. This is an 11% increase in new properties coming onto the market in Q2 2026 compared to Q2 2023 in Huddersfield.

For the next part of the supply story we must then look at the number of Huddersfield homes on the market. The average number of homes for sale in Huddersfield in Q2 2023 was 1,431, in Q2 2025, 1,889 and in Q2 2026, 1,688. Again, a 17.9% increase in the number of Huddersfield homes for sale in Q2 2026 compared to Q2 2023.

On the demand side of the equation; 793 Huddersfield homes sold STC in Q2 2023, as expected this increased to 920 homes sold STC in Q2 2025 and in Q2 in 2026, this dropped to 860 Huddersfield homes sold STC.

So, we’ve had significant increases in the number of Huddersfield properties coming on the market for sale and the total number of properties for sale, yet the growth in sales between Q2 2023 and Q2 2026 has only been 8.4%.

Interesting don’t you think?

Final thoughts for Huddersfield homeowners thinking of moving

As you can see Huddersfield performed in a similar fashion to the UK market and whilst the Huddersfield property market is still moving, home sellers are now competing with far more homes than they were three years ago. That does not mean homes are not selling. They are. However, with only around six in ten properties coming to market successfully finding a buyer, realistic pricing has never been more important.

Huddersfield home sellers who launch at an ambitious figure and hope the market will catch up risk losing valuable time, becoming stale online and eventually having reduced, will more than likely come off the market unsold. (Remember, 80.1% of the homes listed and subsequently sold STC in the UK in 2026 did not have a price reduction). By contrast, the Huddersfield homes that are priced correctly from the outset are far more likely to attract viewings, generate competition and secure a sale.

Ultimately, decisions about moving home should still be based on personal circumstances rather than market conditions alone. However, anyone thinking of selling in Huddersfield needs to recognise that this is a competitive and price sensitive market.

If you are considering selling or buying in Huddersfield, we are always available for a no-obligation conversation and honest advice based on your own circumstances.

 

Monday, 6 July 2026

Huddersfield’s 1,510 Large Garden Homes: How Rare Are They and What Are They Worth?

For some homebuyers, the kitchen is the deal maker. For others, it is the number of bedrooms, the school catchment or the distance to the railway station. Yet for a sizeable group of buyers, the garden matters just as much as the house itself. Across Huddersfield and its surrounding villages, there are 1,510 homes with large gardens.

What is a large garden? Homes sitting on plots of between 0.25 and 0.5 acres.

That is the equivalent of roughly one quarter to one half of a football pitch, depending on the dimensions used. It is enough room for proper lawns, mature trees, vegetable beds, sheds, greenhouses, children’s play areas and entertaining space, without necessarily becoming a full-time land management project.

Once plots move much beyond half an acre, buyers often begin to think about paddocks, grazing, smallholdings or simply the amount of time and money required to maintain the land. A quarter to half an acre can therefore represent something of a sweet spot for people who genuinely enjoy outdoor space.

Not everyone wants a large garden in Huddersfield

It is important to say that large gardens are not right for everybody.

Plenty of Huddersfield buyers actively prefer a smaller, easier to maintain outside space. A modest patio or compact lawn might be ideal for a busy professional, an older homeowner or somebody who would rather spend their weekends doing anything other than cutting grass.

Modern housebuilders understand that. Many newer homes have been built on smaller plots, allowing more properties to be constructed within the same development. This can help keep homes more affordable and reduce the amount of garden maintenance required. The trade-off, of course, is that some modern gardens can feel closer to a postage stamp.

For those who want space for children, dogs, gardening, entertaining or simply a little distance from the neighbours, a genuinely large garden remains highly desirable.

Where are Huddersfield’s large garden homes?

The 1,510 homes are spread across the seven main postcode districts covering Huddersfield and many of its surrounding villages.

  • HD1: 44 homes with a large garden (with an average value of £348,955)
  • HD2: 279 homes with a large garden (with an average value of £580,770)
  • HD3: 205 homes with a large garden (with an average value of £547,514)
  • HD4: 181 homes with a large garden (with an average value of £595,021)
  • HD5: 124 homes with a large garden (with an average value of £475,508)
  • HD7: 200 homes with a large garden (with an average value of £533,575)
  • HD8: 477 homes with a large garden (with an average value of £574,120)

The average estimated value across all the postcode districts is approximately £522,209.

That figure should not be treated as a valuation for every home with a large garden. The size, condition, location and style of property will still have a considerable effect on its value. A detached house with a modern kitchen, open views and half an acre will naturally sit in a very different price bracket to a smaller semi-detached or terraced home with a long thin plot. Nevertheless, the figure gives us a useful indication of the value associated with this section of the local property market.

Large gardens are not limited to detached houses in Huddersfield

One of the most interesting findings is that these plots are not found exclusively behind large, detached homes.

For example, in HD8, there are 59 semi-detached homes sitting on plots between 0.25 and 0.5 acres and HD3 has 45 semi-detached homes within the same plot range (these are the postcodes with the highest number), while HD4 has 20 semi-detached homes and HD1 has 21 (these are the postcodes with the lowest number).

This challenges the assumption that a large garden automatically means buying a large country house. There are a handful of older terraced homes in Huddersfield that were constructed with exceptionally long gardens, particularly in areas where land values and development pressures were very different from today.

How often do these Huddersfield homes change hands?

Of Huddersfield’s 1,510 homes with these large gardens, 908 have a recorded sale history since 1995.

That means approximately 60% have changed hands at least once during that period, while four in ten have no recorded transaction in the last 30 years.

This helps demonstrate why finding the right large garden home can take patience. Many of these properties remain with the same owners for long periods. People who have the outdoor space they want are often reluctant to give it up, particularly when comparable homes are difficult to find.

At the time of writing this article, only 36 of the 1,510 homes were being marketed for sale (which represents only 2.4% of the total large garden housing stock across HD1-HD5, HD7-HD8) … not much is it?

Of course, these figures will move as homes come to the market and sales are agreed, but they illustrate the relative scarcity.

A garden is worth more than its size 

A garden cannot be judged purely by acreage though.

Its shape, privacy, orientation, landscaping and usability all matter.

A beautifully designed 50ft by 20ft garden can be far more appealing than a larger plot that is steep, overlooked or difficult to maintain. Equally, some buyers see an established garden and immediately think about the work involved (although those robot mowers are very good!). Others see mature trees, vegetable beds and flower borders and fall in love with the garden before they have properly viewed the house.

That emotional response is one reason why Huddersfield homes with exceptional gardens can attract strong interest when they are marketed and priced correctly. Huddersfield and its surrounding villages have a varied mixture of homes, from modern developments to period properties and substantial village houses.

For those buyers who dream of space to plant, play, entertain or simply breathe, the area’s 1,510 large garden homes represent an important, valuable and relatively scarce part of the local property market.