Good news for Sheffield home owners - the price of property in the city is on the up
Good news for Sheffield home owners - the price of property in the city is on the up.
The latest available statistics show that overall, the average value of property in Sheffield is increasing, with a 4.1 per cent rise in house prices over just the last 12 months.
That’s the highest rise for the whole of Yorkshire and also for the UK & Wales as a whole.
The most popular part of the city continues to be S11, showing an impressive 8.5 per cent increase in house prices over the last year - more than double compared to the rest of the UK.
And in nearby S10 a 5.8 per cent increase in house prices over the last year was almost double the figures for other cities across the country..
But according to Harriet Cooke of Sheffield estate agency and lettings specialist Martin & Co, while traditional green Victorian suburbs such as Nether Green, Ranmoor and Fulwood might enjoy the highest prices, it’s the less likely S12 that has is currently proving the real property hot spot.
S12 covers such districts as Birley, Gleadless, Gleadless Townend, Frecheville, Hackenthorpe, Intake and the popular village of Ridgeway.
“Over the last 12 months S12 shows quite an impressive 8 per cent increase in house prices in the area with an 11 per cent increase in transactions over the same period,” she explained.
“This outperforms the rest of the UK and this is most probably because the S12 area has a more affordable housing market and has been helped in turn over the last few years by help to buy schemes.
“The continuing popularity of the area’s ex council housing being sold also reflects these figures.”
Almost as popular has been the neighbouring S20, covering the Mosborough area.
“This is one of the largest suburbs of Sheffield and one that indicates a 2.9 per cent increase in house prices,” said Harriet.
“Over the last 10 or so years the area has grown in population with the introduction of so many new builds in the area keeping the average house prices more buoyant for now.”
The biggest surprise, however, probably comes with the continuing popularity of S2 and the houses of Arbourthorne, Heeley, Highfield, Manor, Norfolk Park, Wybourn and Park Hill.
“The last few years has S2 become one of the fastest growing areas and has now caught up with the rest of the Sheffield market,” Harriet said.
“This is mainly due to the number of new developments and buy to lets in the area as the ever-expanding student markets demands more housing pushing out of the city centre.
“With a 16 per cent loss of transactions over the last 12 months it seems there is less to purchase and I think this will be one area to watch over the next two to three years as the Sheffield market maintains and continues its expected increase in popularity.”