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House prices in Sheffield on the rise at last

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House prices in Sheffield are due to rise in 2014, building on steady growth seen in the property market during the autumn.

Key demand is in the S7, S10 and S11 postcode areas, with properties under £500,000 selling best.

Estate agents are reporting a clear jump in viewing numbers, up by as much as 20 per cent on the same time as last year.

But predictions of a seven per cent jump by the Royal Institution of Chartered Surveyors were dismissed.

“That’s rubbish,” said James Mee, of Saxton Mee. “We’ve had a very good few months, but I don’t think prices will go up by more than a few per cent next year.”

Joanne Bloor, of Bloors, said: “It’s ridiculous to be predicting seven per cent rises at this stage.”

“The market has been very fickle and uneven over the last few months. But activity is certainly better and there’s definitely hope.”

Agents say the market is still difficult at the lower end – one terrace in Crookes was finally sold for £170,000 just before Christmas – 20 per cent less than the owner paid for it six years ago.

“We’ve found that complete renovation projects, or those that have been completely renovated, are going best,” said Mrs Bloor.

“People either have the funds to transform a place, or they have the money for a deposit but not enough to do any work.”

Chris Thompson, managing director of ELR, said that, unusually, November had been the company’s second best month of 2013.

“Hopefully that means we can look forward to steady increases next year,” he added.

 

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