How the pandemic has driven up Calderdale house prices
Recent research has shown that the pandemic has seen house prices in Calderdale go up by over 25 per cent on average.
Since lockdown restrictions first eased last summer, buyer demand has been fuelled in part by a desire for larger properties with more outdoor space, as people’s work-life priorities have shifted during the pandemic.
Across the UK, this has helped to drive faster price growth in areas further from major city centres, where buyers perceive they’ll get better value for money.
Based on analysis of mortgage transactions included in the Halifax House Price Index between March 2020, when the first lockdown restrictions were introduced, and June 2021 when the Government’s Stamp Duty holiday began to be unwound, data shows that Calderdale saw house price growth of 26.7 per cent.
Andrew Asaam, Mortgages Director, Halifax, said: “The pandemic has had a huge impact on the housing market right across the country. This has been shaped by buyers’ demand for more space, a desire to move from the centre to more suburban locations, and the trend for more home working both now and in the future.
“It’s clear from speaking to our mortgage customers that many have prioritised space over location as a result of more time spent at home over the last year and a half.
“As consumers look for value in the market, that inevitably leads people to look further afield from major city centres, where you tend to get more property for your money.
“We’ve seen evidence of this in areas right across Britain, with house price growth in the vast majority of cities now being outstripped by increases in their surrounding areas.”