Huddersfield Housing Crisis? Only 1.4% of Huddersfield Homes Are For Sale

The Huddersfield Property Market continues to disregard the end of the world prophecies of a post Brexit fallout with a return to business as usual after the summer break.

The challenge every Huddersfield property buyer has faced over the last few years is a lack of choice – there simply hasn't been much to choose from when buying (be it for investment or owner occupation). Levels are still well down on what would be considered healthy levels from earlier in this decade, as there is still a substantial demand/supply imbalance. Until we start to see consistent and steady increases in properties coming on to the market in Huddersfield, the market is likely to see upward pressure on property values continue.

For example, last month HD2 saw 56 new properties coming on to the market, not bad when you consider for some months in the last year the average has been in the early 30’s. With the average Huddersfield property value hitting a record high, reaching almost £169,700 according to my research, this shortage of properties on the market over the last two years has contributed to this ‘fuller' average property figure.

As I write this article, 1.49% of Huddersfield properties are up for sale. In terms of actual chimney pots, that equates to 779 properties on the market in Huddersfield (within 2 miles of the centre of Huddersfield) – which, when compared to only a year ago when that figure stood at 849, is a slight decrease in the number of properties available to buy. Split down into the type of property, it makes even more fascinating reading...

 

·         Detached Properties in Huddersfield  - 161 on the market a year ago compared to 145 on the market now – a decrease of 10%

·         Semi Detached Properties in Huddersfield - 262 on the market a year ago compared to 213 on the market now – a decrease of 19%

·         Terraced Properties in Huddersfield - 250 on the market a year ago compared to 283 on the market now - an increase of 13%

·         Flats / Apartments Properties in Huddersfield  - 82 on the market a year ago compared to 109 on the market now - an increase of 33%

This is evidence of strength in the Huddersfield housing market that many didn't expect. Many believed that the Huddersfield property market wasn't going to be strong enough post Brexit - as what was a sellers' market before the Brexit vote and Buyers' market in the early months after it, may now be somewhere in between and the market might just be coming back into balance.

However, all this will mean property values won't continue to grow at the same extent they have been over the last 12 to 18 months, and in some months (especially on the run up to Christmas and early in the New Year), values might dip slightly. This won't be down to Brexit but a re-balancing of the Huddersfield Property Market – which is good news for everyone.