Property values rise by £126 per week in Huddersfield

Last week, a landlord who lives in Brighouse came in to our office to discuss the property values in the West Yorkshire area. He owns a varied portfolio of rental properties, primarily in Huddersfield and Halifax with one in Bradford, so it is interesting to compare the increase in property values around the area.

Over the last 12 months in Huddersfield average property values have risen from £148,400 to £155,000, a rise of £6,600 or £126 per week. When I looked at some of the surrounding areas, Halifax has had a slightly lower average increase in property values, at around £92 per week (as the average value of a Halifax property has risen from £136,000 to £140,800, whilst Bradford has seen prices only moderately rise by around £48 per week (taking an average property in Bradford from £116,600 to £119,100).

When one looks at the percentages, Huddersfield has performed the best, rising by 4.4% in the last 12 months, compared to Halifax at 4.3% and only increasing in Bradford by 2.1%! It is, nonetheless, a rise in all the town’s average property values which suggests the market is increasing steadily in our area, but especially Huddersfield– good news for home owners and landlords alike. 

However, back to Huddersfield, long term property values which track peaks and troughs are more helpful to landlord investors. The questions I seem to be asked on an almost daily basis by landlords are:-

·        “Should I sell my property in Huddersfield, or even buy another?”

·        “Is the time right to buy another buy to let property in Huddersfield and if not Huddersfield, where?”

·        “Are there any property bargains out there in Huddersfield?”

When considering this landlord’s buy to let portfolio, yields can be in the order of an average 4%-7% per year, depending where you buy, so combine that with steady rental growth, excellent increases in capital values of the properties themselves and it could be a good time to invest in the property market in Huddersfield as property values start to rise.

If you would like some advice about buying to let, be you a landlord with a portfolio or someone thinking of investing in the rental market, do what a number of other Huddersfield landlords do and visit the Huddersfield Property Blog where I discuss the Huddersfield property market, how Huddersfield compares with its neighbouring towns/ rivals, and at the same time, I can hopefully answer the three questions above. I don’t bite, I don’t do hard sell, I will just give you my honest and straight talking opinion. If you ever passing, do pop in and see me at our office on Market Street, Huddersfield, HD1 2ET or visit the Huddersfield Property Blog  http://huddersfieldproperty.blogspot.co.uk/