Why Bradford has seen the highest demand for homes in the UK
Gary Horgan, director of Martin and Co. sales and lettings agents in Keighley and Saltaire, says those locations, along with
Jonathan Raynor, head of Dacre, Son & Hartley's Baildon office, says:"Baildon has always been desirable because it has a railway station and it sits on the edge of the moors but most buyers were people moving within this area. Now we are seeing buyers from the south of England because they think Baildon offers good value for money."
Demand for homes has slowed over 2022 but remains 25 per cent above average over the last five years and on a par with this time last year. Average UK house prices are up 8.3 per cent year-on-year, a fall from a 9.6 per cent high in March 2022, yet remain above the five year average of 4.3 per cent. A stronger than expected desire for households to move means that overall, housing sales are expected to reach 1.3m, which is 100,000 more than was originally forecast at the beginning of the year. This also means the pace of house price growth is slowing less quickly than expected and by the end of the year, prices are expected to have risen five per cent, meaning the average value of a home will reach nearly £260,000 by December 2022.
In addition, up to half a million older people have left the labour market over the pandemic with retirement a major trigger for moving home. In some instances, the cost of living pressures may be boosting the desire to relocate to save on running costs and find better value for money, in turn supporting levels of demand and market activity.
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