"I visited the part of Sheffield city centre with the city's fastest rising house prices and I am concerned"

I’d be lying if I said seeing the Devonshire Quarter at the top of the list for Sheffield’s fastest growing house prices did not surprise me.

Previous years have seen areas like Kelham and Cathedral top the list - a trendy, up-and-coming area receiving huge investment - which seemed to make sense.

Walking around the Devonshire Quarter gave me more questions than answers - less so about why the house prices are rising, but more on the impact it could have on the people living there.

One thing that seemed apparent when traversing the area around Anjali’s Green and streets like Headford Grove and Broom Green, is that a lot of the properties here are private lets - rented accommodation occupied by students and families.

Rising house prices, often determined by average sale prices over the course of a year, would mean larger mortgages and therefore higher monthly rents.

The 2021 Census revealed just one-in-10 residents here own their home - whether that’s outright or with a mortgage, loan or shared ownership. The remaining residents are split fairly evening between social renting and private renting.

According to ONS data, the Devonshire Quarter has a higher rate of income deprivation than most other areas of the city centre - meaning residents here are less likely to be able to afford rent hikes compared to other neighbourhoods nearby.

That’s not to say everyone in this area will struggle - there were plenty of cars around the area, which would suggest many households are able to afford a motor vehicle and the costs that includes.

You can see why house prices are rising though, for those who purchase properties to move here. It’s is a good location for all the benefits that come with city centre living - transport links, shopping areas, restaurants and more.

Most notably, of course, is Devonshire Green. It is arguably the best green space in Sheffield city centre.

During summer months and on warmer days, it is popular with people picnicing and meeting up with friends. It regularly hosts events like football fan zones, as seen during recent Euros competitions.

Stuart McAdie, the 57-year-old founder of The Alternative Store, told me there was “something very special about the area”.

Devonshire Street is filled with independent business and restaurants like BB’s Italian, HonkyTonks Barbers, Bear Tree Records and the Alternative Store.

The Devonshire Quarter has the fastest rising house prices in the city. No other area comes close to it.

Prices here are up 39.51 per cent during the year ending in March 2024. The average property will cost £171,250.

The second highest riser was the Norfolk Park area, up around 14 per cent less than the Devonshire Quarter.

It’s a huge boost for property owners in the area and is a good sign of faith in the local community and businesses nearby. Perhaps even a show of faith in Sheffield city centre and the Heart of the City project nearby.

I just hope it doesn’t cause difficulty for the 90 per cent of residents here who are renting.