Local housing market performing well despite Brexit fears

4th September 2017

Local housing market performing well despite Brexit fears

We've teamed up with our estate agent Wm Sykes to issue a statement on the Huddersfield/Yorkshire property markets.


Our comments come despite wider reports that tax changes, Brexit, political uncertainty and consumer confidence are knocking the industry’s stability.

“These factors have presented some variability across the country. In London, for example, prices have slowed and this has affected the level of houses hitting the market. But we don’t think that’s entirely representative of our region. We’re still experiencing high interest at our current development in Huddersfield, for instance,” said our managing director, Stephen Byram.

“Our economy is strong — thousands of businesses across the region are posting excellent performance and growth. And this has a huge impact on our industry — people are still wanting to move, whether that’s to a bigger family home or downsizing in retirement.”

We are currently developing a 60-home site in Slaithwaite, with 90% of our first phase being sold. Phase two consists of 24 two-bedroom apartments, which are due to be completed in ten months.

“Out of these 24 apartments, we have reserved all but four so far, and they’ve only been on the market for just under eight weeks. It’s because they’re the right type of homes for the local area,” added Stephen.

Wm Sykes commented that the housing market is being supported by strong employment, low interest rates and a shortage of supply. 

Rob Dixon, the estate agent’s sales manager said: “Summer is typically a quieter sales period, but we’ve found that demand for properties has remained at a steady level, with a stream of enquiries being made through our website and office.

“But that’s not all — values are healthy, too. We’ve experienced a small growth rate over the last 12 months which is positive news for everyone. The housing market affects the wider economy, so if prices either increase too quickly or fall, it can have a huge negative knock-on effect.”

We agreed that, while Brexit may bring uncertainty over the coming months, we remain positive over this picture and that now is a good period to buy or sell a house. 

“The main thing buyers and sellers should think about is whether it’s the right time for them. What’s happening in your own life, such as your family and financial situation, are far more important considerations than the market situation,” Rob finished.

Our comments coincide with Wm Sykes’ announcement of its second office launch in Slaithwaite, Huddersfield, which is due to open later this year.