House prices in Rotherham have shot up with increases higher than Yorkshire’s traditional hotspots and here's why

Why house prices in the Rotherham area have boomed beating the usual Yorkshire property hotspots

It’s rare, if not unheard of, for Rotherham to knock the Golden Triangle’s property hotspots into a cocked hat but the South Yorkshire district has done just that. As we reported last week, it recorded the third highest house price growth in Yorkshire with an annual rise of 16.1 per cent, just behind fashionable Ryedale’s 17.7 per cent uplift in a table topped by booming rural Richmondshire, which saw values rise by 20.6 per cent.

The unprecedented increase brought Rotherham borough’s average house price to £167,293, which also makes it one of the most affordable areas in God’s Own County. Estate agents who cover the area, which sits between Sheffield and Doncaster, aren’t surprised at the figures.

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David Hill, sales director and valuer at Simon Blyth, says that those looking for value for money and good transport links are attracted to the town. Rotherham and its villages are close to the M18 and the M1 and its central railway station has trains that can get you into Sheffield city centre in just 15 minutes. Those priced out of Sheffield are migrating there, along with others from much further afield.

Wath-upon-Dearne is a sought after area of Rotherham

“The fact that more people can work at home has also liberated some buyers. So when people from high value areas like the south east look at prices in the Rotherham area, they are astounded that £150,000 will get them a three-bedroom semi," says David

He adds that buyers from outside Yorkshire also come with no preconceived ideas when house hunting, which has also worked well for Rotherham. “Like anywhere else, there are places in the borough that aren’t as well regarded locally as others but those from outside don’t have any prejudice.”

Many are attracted to the outlying villages, including Laughton, Scholes, Thorpe Hesley and Wickersley. The latter, which is two miles from the M18, is extremely popular with young families thanks to its top performing schools. Richard Badger of ELR estate agents in Wickersley says: “It has a good community and it is popular with all age groups from retirees to first-time buyers. You can get a semi-detached house here for £170,000 and have access to great schools and to bars and restaurants.”

Mark Ferris, owner of Bartons estate agents in Rotherham, says the demand for homes has been “relentless”, driven largely by a migration from Sheffield. He adds that a diminishing supply of properties for sale is having an inflationary effect on prices in all sectors of the market, particularly at the bottom end.

“Investors could buy a terraced house for £40,000 to £50,000 in certain areas but over the last 18 months, prices have risen to £75,000. Lots of landlords have capitalised on that and sold up. Buyers include other investors, often from outside the area, who see £75,000 as good value given that a £550 a month rent will still deliver an eight per cent return.”

At Bartons, 85 per cent of homes on their books have sold and 70 per cent of those left are under offer. It is a similar story with rental properties. Mark adds: “I think price inflation in some areas of Yorkshire will be dampened by places becoming unaffordable but that will happen at a slower pace here. Buyers are discovering Rotherham and realising that it is a great place with a good community, good transport links and a town centre that is evolving. Meadowhall killed off retail long ago and so our town plan is to make it more residential and that is paying off. We are ahead of many places in that respect.”

*Pictured is the Rotherham district town of Wath-upon-Dearne.

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