I was interested to read in a recent survey that according to Zoopla two of the top three towns or cities for property price rises in 2016 are in Yorkshire. My interest was further piqued as the town which has had the biggest price rise in 2016 so far is Huddersfield (up 4.71%), which is where my husband and I bought our first house together in 2004 and where we lived for 6 years before I saw sense and got a job on the ‘right’ side of the Pennines.
A lot of the interest in Huddersfield has apparently been driven by buy-to-let investors from the south attracted by lower prices and high yields. Huddersfield also has the ideal combination of good schools and so is popular with families, has a student accommodation market due to the increasingly popular university and with good transport links to Leeds and Manchester and over the tops to Sheffield, it is particularly attractive to young professionals, such as myself and my husband, where one person works in Manchester and the other in Leeds.
It wasn’t much of a surprise that the third highest riser is York (up 3.4%). In fact Yorkshire and Humber as a region has had the second highest growth in the country. By comparison, property prices in London have only risen by 0.09% so far this year. Whilst the uncertainty surrounding Brexit will undoubtedly have had an impact on the London market, we shouldn’t underestimate the strengths of the Yorkshire market.
The traditional Yorkshire hotspots of York, Harrogate and Leeds and their ‘golden triangle’ are well known but, as Huddersfield demonstrates, other Yorkshire towns and cities are following hot on their heels and offer investment opportunities. As any proud Yorkshire man or woman would tell you: you can’t go far wrong with an investment in God’s own county!
Written by Jennifer Kirkhope of Berwins Solicitors.