With all of us completing the Census, a couple of weeks ago, it made me realise profoundly that mine and my family’s life, which from our own point of view seems unique and delightful, makes us all into a series of statistics for the Census gatherers to pore over. To digest and regurgitate facts, figures and trends for those who are interested in the ever-changing social circumstances of these islands.
However, the information from the Census is vital to improving
our lives - Governments can plan the future with the information it provides
and we in turn can wonder about the lives of our past generations with the
information provided therein historically if we so wish.
Whilst the information from this Census won’t be published
until March 2023, let us have a look at what has been happening in the Huddersfield
property market since the last time we completed the Census in 2011.
Just to remind you, 2011 saw the wedding of Prince William
and Kate Middleton, Mr Cameron was the PM, there was the last flight of the
Space Shuttle and Game of Thrones premiered.
Whilst in the Huddersfield
property market…
·
The average price paid for a Huddersfield detached
home in the last 12 months has been £302,000. The average value of a Huddersfield
detached home has risen by 32.1% in the last 10 years or £79,600
·
The average price paid for a Huddersfield
semi-detached home in the last 12 months has been £174,700. The average value
of a Huddersfield semi-detached home has risen by 37.9% in the last 10 years or
£54,300
·
The average price paid for a Huddersfield town
house/terraced home in the last 12 months has been £127,100. The average value
of a Huddersfield town house/terraced home has risen by 20.2% in the last 10
years or £28,200
·
The average price paid for an apartment/flat in
the last 12 months has been £109,500. The average value of a Huddersfield
apartment/flat has risen by 32.5% in the last 10 years or £30,500
New properties built in
Huddersfield…
Irrespective of any dip in Huddersfield house prices or
transactions when the Stamp Duty Holiday ends in the autumn, this is a trend
that looks set to continue, with no sign that supply of new homes is anywhere near
to keeping pace with demand for households.
There have only been 2,282 new properties built in Huddersfield
in the last 10 years, that’s around 19 a month. That means the population in Huddersfield
has risen by 2.41 people for every new home built over that decade.
Nationally, the Country has only built just over 180k homes
a year over the last decade, 120k less than the national target of 300k. In the
meantime, the population has grown by more than 4 million.
When looking locally at the size
of new build property in Huddersfield, the average property is just under 950 sq.
ft., which is 9% larger than a decade ago.
Rents in Huddersfield…
Whether you are a winner or loser in terms of rental values
depends on whether you are a Huddersfield landlord or a Huddersfield tenant.
The average rent for a property in Huddersfield
currently stands at £823 per month, whilst a decade ago, it was £722 per month
This means
private rents have increased by 84p a month for the past ten years. Interesting,
when compared to the national average of 98p a month whilst in London, rents
have grown by £4.64 a month.
The next 10 years of the Huddersfield Property Market…
The next ten
years will also be just as fascinating. To try and predict would be a fool’s
game.
For example, who
would have believed what the Huddersfield property market has done in the last
12 months since the start of Lockdown 1.0. The number of transactions (i.e.
people moving) in turn with UK house prices having risen so much in the
last year ... all during a worldwide pandemic and at a time of such mayhem and
havoc in the UK and world economy, is nothing short of remarkable … the
question is – is it sustainable?
Read these articles in the coming months and years and
I will share with you what is happening to the value of your Huddersfield
property, be you a Huddersfield homeowner or Huddersfield landlord.
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