Sheffield Annual Housing Market Index
SHEFFIELD ANNUAL HOUSING MARKET INDEX
November 2008
HIGHLIGHTS:
• The average price of a home in Sheffield in 2008 currently stands at £145,634 * -
down 6% on figures recorded by Land Registry at the end of 2007
• The average price of a home in Sheffield at the end of 2007 was £155,005, showing
an annual increase of 4% since 2006 - up from £149,021
• All property types have recorded price falls so far in 2008
• Terraced and semi-detached homes have traditionally dominated the housing mix in
Sheffield, comprising over 65% of all property sales since 2000 - 68% in 2008
• Terraced homes have lead the way for price growth in Sheffield, recording a 7% rise
between 2006 and 2007 and rising by 158% since 2000
SUMMARY
Following several years of robust growth, the Sheffield property market has recorded a notable decline in 2008, along with much of the UK. The average house price has decreased by 6% so far in 2008, following an increase of 13% between 2005 and 2007, and strong year-on-year growth since 2000 (140%).
The number of home sales reached their peak in Sheffield in 2006, followed by a marginal decline in total sales during 2007. Sales are likely to end the year significantly lower in 2008. Traditionally, terraced and semi-detached homes have dominated the property mix in Sheffield, comprising around 70% of all sales in the city year-on-year and achieving strong price growth.
There has been an influx of apartments coming to the market here in recent years, although prices have not surpassed levels seen in 2006. All property types have recorded price falls so far in 2008, with detached homes suffering the largest.
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