House costs in Huddersfield grew on the quickest charge within the UK within the final yr – regardless of a nationwide downturn – in line with a report.
MIt was one of many areas bucking the nationwide pattern, in line with the Halifax House Price Trends report, as houses within the West Yorkshire city went for 8.7% extra – equating to an additional £22,137 – within the yr as much as October in comparison with a yr earlier.
Houses in Bradford have been additionally costlier, up by 8.5% – an additional £15,183 for consumers.
While the proportion improve was decrease, the most important financial improve within the worth of a house was within the London Borough of Hillingdon, which encompasses Heathrow Airport.
There, home costs grew by a median of £22,677, a 4.5% improve, in comparison with 2022.
London was the area which included essentially the most entries within the high 10 of these experiencing rises: costs in Bexley and Newham additionally grew.
No clear causes got for the rises in these areas. Instead, the director of Halifax mortgages, Kim Kinnaird stated home costs may be swayed by many components such because the variety of houses on the market, the native job market, and the sorts of providers on supply like public transport, faculties and universities.
Halifax stated “Huddersfield weathered the UK’s house price downturn best over the last year” however “in many areas house prices remained largely static”.
While the Halifax did not publicly reveal all of the areas that had seen worth falls, the 5 with the most important decreases had seen falls of between 13% and 15%.
They included Stoke-on-Trent, Perth and Stockport the place costs fell 15%, 14.1% and 13.3% respectively.
Despite the falls, Halifax stated costs are a median of £40,000 greater than earlier than the pandemic however didn’t present a determine for the way a lot costs on the whole had modified since final yr.
Read extra:
Tories trace at additional assist for first-time consumers to woo younger voters at subsequent election
The housing battle – which occasion will get Britain constructing?
Halifax, together with the Bank of Scotland, is a part of the Lloyds Bank Group, the UK’s largest mortgage lender.
The information, launched on Thursday, was compiled by taking a look at costs utilized in Halifax and Bank of Scotland mortgage approvals within the 12 months to October 2023 in comparison with the yr to October 2022.
Most individuals within the UK are neither house house owners nor mortgage holders, in line with Sky News evaluation.
The largest group is renters.
Source: information.sky.com”