(Commonwealth) _ House prices and rents in Bradford have surged at a faster rate than anywhere else in Yorkshire, according to recent data from the Office for National Statistics (ONS). This trend underscores the city’s evolving housing landscape, where demand and prices are both on the rise, posing new opportunities and challenges for residents, local authorities, and housing associations. The ONS reported that the average house price in Bradford reached £181,000 in June 2024, reflecting a 7.4% increase compared to the previous year. In contrast, the broader Yorkshire and Humber region saw a more modest average house price increase of 4.7% during the same period. This marks Bradford as a focal point for rapid housing market growth within the region.
Similarly, the rental market in Bradford is experiencing notable increases. The average rent in the city rose to £683 per month in July 2024, up 8.2% from £631 per month a year earlier. This sharp rise in rents mirrors the trend in house prices, further exacerbating affordability concerns for many residents. While the ONS did not provide a specific explanation for Bradford’s accelerated growth in housing costs, local figures suggest that new, expensive developments are partly driving up the average. Bob Felstead, a councillor for Bradford’s Wharfedale area and a former data analyst in Westminster, offered insights into the dynamics behind these price hikes. According to Felstead, a significant number of new homes are being built on green belt land surrounding the city, with price tags ranging between £750,000 and £1,000,000. These high-end properties are pushing up Bradford’s overall average house price, but Felstead believes that these homes are not necessarily being bought by long-standing Bradford residents.
“I expect that these homes are not being bought by Bradfordians overall, but rather by well-paid people who primarily commute to Leeds,” Felstead commented. This influx of wealthier commuters purchasing expensive homes could be one factor behind the rising costs, creating a disparity between the city’s long-term residents and newer arrivals who may have higher incomes. The ongoing debate over whether rising house prices are beneficial or harmful for the city has divided housing associations and local authorities. Proponents of the price increases argue that they reflect a strengthening local economy. For example, a spokesperson for Manningham Housing Association highlighted the positive aspects of rising house prices, suggesting that they are indicative of economic growth and improvement in Bradford. “Rising house prices indicate an improving economy, which is good news for everyone, particularly in Bradford district, where there is a continuous partnership effort to boost economic activity and improve life chances,” the spokesperson said.
However, not everyone views these price increases as a positive development. For many, the rapid rise in housing costs is contributing to an affordability crisis, making it more difficult for people to access safe and secure housing. Andy Wallhead, chair of the West Yorkshire Housing Partnership, warned that the “soaring” property prices are putting homeownership out of reach for many. “Across West Yorkshire, house prices have reached six times the average annual wage, and there are approximately 85,000 people and families stuck on housing waiting lists,” Wallhead said. He emphasized the pressing need for more affordable housing in the region. “The need for more affordable homes is clear, and we’re pleased this is being treated as a matter of urgency by the government,” he added. In response to these growing concerns, the government has outlined plans to address both the housing shortage and affordability challenges across the UK. A government spokesperson affirmed their commitment to building 1.5 million homes over the next few years, with a focus on increasing the availability of affordable and social housing.
