Bradford House Prices Surge in Yorkshire

House prices and rents in Bradford are outpacing the rest of Yorkshire, according to recent data from the Office for National Statistics (ONS). As of June 2024, the average house price in Bradford reached £181,000, marking a significant 7.4% increase from the previous year. In contrast, the average house price across Yorkshire and the Humber rose by only 4.7% during the same period. Rents in Bradford also surged, with an average monthly cost of £683 in July 2024, reflecting an 8.2% increase from £631 in July 2023, surpassing the regional rise of 7.0%. The ONS has not provided a clear explanation for this disparity, but local councillor Bob Felstead attributes the increase to the construction of high-end homes in the area. Felstead noted that many new properties being built in the green belt are priced between £750,000 and £1,000,000, which skews the average upwards. He emphasized the pressing need for affordable housing, as current prices in West Yorkshire have reached six times the average annual wage, leaving around 85,000 individuals and families on housing waiting lists. The response from housing associations is mixed regarding the implications of rising house prices. Felstead highlighted the urgency for more affordable homes, a sentiment echoed by government officials. A spokesperson confirmed the government's commitment to addressing the housing crisis by pledging to build 1.5 million homes and enhance social and affordable housing initiatives, alongside reforms to the planning system.