It’s a little too early to tell what effect Covid19 has had on the local area, but we can see what the property market is starting to do now that the restrictions are starting to be lifted and viewers are back taking place.
Hull’s cheapest property recently went to auction this week with a starting price of a mere £1,000. The property is in the Gyspyville area of Hull and is a mid terrace 2 bedroom property, it was badly damaged in a fire and needed extensive repair work. The low starting price shouldn’t be a sign of things to come.
Buying properties in Hull is now possible, Hull being one of the countries most affordable cities to purchase a home, according to a recent Open Property Group affordable index release, in which it compares house prices and salary data.
There is only one city currently in the UK where house prices fall into affordability, with local Hull house prices only having to fall on average by 12% to fit with the affordability index. Ranking 3rd Hull the most affordable city to live in across the UK.
Hull continues to see investment in the area making a more enticing place to buy a property for many first time buyers. Wykeland Group has recently completed on the purchase of 100,000sq foot of Whitefrigate, in what it sees as a long term regeneration plan, the properties include the old Marks & Spencer’s , HMV and New Look.
We can only see the Hull property market going from strength to strength both short and long term.
Peregrine Properties Hull
We are confident the property market will return to how it previously was pre-lockdown and we are the estate agents for you to do that, if you have a property to sell we’ll make sure it’s seen.
The most viewed property in Hull on Zoopla is currently one Peregrine Property Hull has on the market, a 3 bedroom property in the HU5 area and is listed at £150,000.
If you want to know more about the property you can view it here, or if you are looking to find out what Peregrine Property, the number one estate agent in Hull can do for you contact us directly on 01482 506161.