Cutting through the jargon - Sheffield is identified as a property hotspot

The latest Rightmove and Zoopla House Price Index reports have been released, highlighting the continued rise in property prices, and how demand is changing regionally and nationally.

For the third consecutive month, prices have reached an all-time high, with an average increase of over £19,000 since February. For Yorkshire & The Humber this continued price rise means that since April 2021, the region has seen a total 9.8% increase.

What does this mean for buyers in our area?

The supply of homes across the country is slowly beginning to rise, meaning more opportunities for buyers, who are searching for their next move.

Zoopla has identified a number of supply hotspots across the country where the volume of properties coming to market has risen the fastest over the last month.

Sheffield is the only location within Yorkshire & the Humber to make it onto the list, with the growth of new supply sitting at 14% compared to the previous month. The city region has seen supply increase at all price points, so whatever your budget, you’re now more likely to find the perfect home.

With demand still high throughout the region, being prepared to move quickly is key. If you want to secure your dream home, selling your property first could make the difference between moving or missing out. 

And for sellers?

Despite the increase of supply coming onto the market, this month we are still seeing prices at an all-time high with a 1.8% monthly increase on March.

Rightmove’s Tim Bannister said: “Over 125,000 new sellers have taken advantage of the great sellers’ market this month, but more are needed in all areas and in all property sectors to meet high buyer demand.”

Our Managing Director, Mark Ross added: “It’s great to see supply increasing in our region at last! Buyers are finally seeing more choice in their property search allowing them to find their perfect match.

“If you have been holding off putting your property on the market, I would strongly recommend getting a new valuation and finding out what price you could achieve in today’s market”.

You can book a valuation with your local Redbrik estate agents in Sheffield and take the first step towards your new home.