First-time buyer rise brings good news for Bradford housing time-bomb

First-time buyer rise brings good news for Bradford housing time-bomb

First-time buyer rise brings good news for Bradford housing time-bomb

First published in News

A big rise in the number of first-time buyers could herald good news for a ‘housing time-bomb’ in Bradford.

The outlook for the district’s housing market was also boosted by figures showing that this region has most affordable homes in the UK and that house prices in Yorkshire are set to rise by seven per cent in 2014.

Local estate agents say there has been a definite return of the first-time buyer since last Easter, with one firm reporting a 25 per cent rise in sales over the past year.

A report published today now shows the number of first-time buyers in the UK grew by about a fifth in 2013 to 265,000 – the strongest annual increase in more than a decade.

And the Halifax and the Council of Mortgage Lenders say the rise means first-time buyers increased their share of all house purchases made with a mortgage to 44 per cent, up from 40 per cent in 2012.

But they also report that less than a third of all local authority areas have house prices affordable to first-time buyers on average earnings. Yorkshire and Humberside was found to be the region most affordable for first-time buyers at 76 per cent.

These results were welcomed by Councillor Val Slater, Bradford Council’s executive member for housing.

“It is very important that we maximise the number of affordable homes and we are doing all we can to facilitate that,” she said.

“We are aware there is a housing time-bomb in Bradford, especially for first-time buyers. We have a shortage of first-time buyer homes here and ten per cent overcrowding in some inner city wards.

“There is a big job to be done and our efforts will continue, but these signs are encouraging.”

Patrick McCutcheon, of Dacre Son and Hartley’s Ilkley office, said: “This region is benefiting from their return of the first-time buyer because we remain one of the more affordable parts of the UK and because we have a diverse economy which means buyers can afford to pay back what they borrow. However, we need to see how this develops before we take a view on house price inflation.”

James Watts, Cleckheaton-based director of Robert Watts estate agents, said the outlook was ‘very positive’. “We have seen a 25 per cent increase in sales,” he said.

“In recent months first-time buyers have been showing more confidence. They are going for it. But the next six months will be crucial.”

Comments (11)

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9:09am Sat 4 Jan 14

Victor Clayton says...

Good news I suppose, but I would have liked to hear the views of some estate agents based in Bradford!
Good news I suppose, but I would have liked to hear the views of some estate agents based in Bradford! Victor Clayton
  • Score: 6

1:39pm Sat 4 Jan 14

Cooperlane2 says...

Affordable only if you want to buy in the middle of a council estate, not somewhere nicer.
Affordable only if you want to buy in the middle of a council estate, not somewhere nicer. Cooperlane2
  • Score: 6

3:42pm Sat 4 Jan 14

The Hoffster says...

A big rise in the number of first-time buyers could herald good news for a ‘housing time-bomb’ in Bradford.


Since no-one actually wants to live here, this is hardly a surprise.
[quote]A big rise in the number of first-time buyers could herald good news for a ‘housing time-bomb’ in Bradford. [/quote] Since no-one actually wants to live here, this is hardly a surprise. The Hoffster
  • Score: 2

5:05pm Sat 4 Jan 14

UNBULLIEVABLE says...

Victor Clayton wrote:
Good news I suppose, but I would have liked to hear the views of some estate agents based in Bradford!
Pretty sure Cleckheaton IS in Bradford, BD19 postcode... And as Joint MD of Bradford's largest independent Estate Agent I think a comment from James Watts qualifies pretty well!
[quote][p][bold]Victor Clayton[/bold] wrote: Good news I suppose, but I would have liked to hear the views of some estate agents based in Bradford![/p][/quote]Pretty sure Cleckheaton IS in Bradford, BD19 postcode... And as Joint MD of Bradford's largest independent Estate Agent I think a comment from James Watts qualifies pretty well! UNBULLIEVABLE
  • Score: 1

5:11pm Sat 4 Jan 14

UNBULLIEVABLE says...

The Hoffster wrote:
A big rise in the number of first-time buyers could herald good news for a ‘housing time-bomb’ in Bradford.


Since no-one actually wants to live here, this is hardly a surprise.
Of course "no-one wants to live here" that's why the number of first time buyers AND sales generally have risen!
[quote][p][bold]The Hoffster[/bold] wrote: [quote]A big rise in the number of first-time buyers could herald good news for a ‘housing time-bomb’ in Bradford. [/quote] Since no-one actually wants to live here, this is hardly a surprise.[/p][/quote]Of course "no-one wants to live here" that's why the number of first time buyers AND sales generally have risen! UNBULLIEVABLE
  • Score: 1

5:53pm Sat 4 Jan 14

collos25 says...

And what happens when these first time buyers suddenly find their mortgage payments are to rise by a large amount.
And what happens when these first time buyers suddenly find their mortgage payments are to rise by a large amount. collos25
  • Score: -1

7:38pm Sat 4 Jan 14

Victor Clayton says...

UNBULLIEVABLE wrote:
Victor Clayton wrote:
Good news I suppose, but I would have liked to hear the views of some estate agents based in Bradford!
Pretty sure Cleckheaton IS in Bradford, BD19 postcode... And as Joint MD of Bradford's largest independent Estate Agent I think a comment from James Watts qualifies pretty well!
I think that you will find Cleckheaton is in Kirklees. Postcodes mean nothing really, except to the post office. For example, grassington has a bd postcode but it's not in Bradford. Ilkley is LS29, but it is not in Leeds.
[quote][p][bold]UNBULLIEVABLE[/bold] wrote: [quote][p][bold]Victor Clayton[/bold] wrote: Good news I suppose, but I would have liked to hear the views of some estate agents based in Bradford![/p][/quote]Pretty sure Cleckheaton IS in Bradford, BD19 postcode... And as Joint MD of Bradford's largest independent Estate Agent I think a comment from James Watts qualifies pretty well![/p][/quote]I think that you will find Cleckheaton is in Kirklees. Postcodes mean nothing really, except to the post office. For example, grassington has a bd postcode but it's not in Bradford. Ilkley is LS29, but it is not in Leeds. Victor Clayton
  • Score: 7

9:31pm Sat 4 Jan 14

UNBULLIEVABLE says...

Victor Clayton wrote:
UNBULLIEVABLE wrote:
Victor Clayton wrote:
Good news I suppose, but I would have liked to hear the views of some estate agents based in Bradford!
Pretty sure Cleckheaton IS in Bradford, BD19 postcode... And as Joint MD of Bradford's largest independent Estate Agent I think a comment from James Watts qualifies pretty well!
I think that you will find Cleckheaton is in Kirklees. Postcodes mean nothing really, except to the post office. For example, grassington has a bd postcode but it's not in Bradford. Ilkley is LS29, but it is not in Leeds.
I think you'll find postcodes mean EVERTHING and are a huge factor in property values. The point I was trying to make is you did "hear the views of Estate Agents based in Bradford"
[quote][p][bold]Victor Clayton[/bold] wrote: [quote][p][bold]UNBULLIEVABLE[/bold] wrote: [quote][p][bold]Victor Clayton[/bold] wrote: Good news I suppose, but I would have liked to hear the views of some estate agents based in Bradford![/p][/quote]Pretty sure Cleckheaton IS in Bradford, BD19 postcode... And as Joint MD of Bradford's largest independent Estate Agent I think a comment from James Watts qualifies pretty well![/p][/quote]I think that you will find Cleckheaton is in Kirklees. Postcodes mean nothing really, except to the post office. For example, grassington has a bd postcode but it's not in Bradford. Ilkley is LS29, but it is not in Leeds.[/p][/quote]I think you'll find postcodes mean EVERTHING and are a huge factor in property values. The point I was trying to make is you did "hear the views of Estate Agents based in Bradford" UNBULLIEVABLE
  • Score: -3

10:42pm Sat 4 Jan 14

The Hoffster says...

UNBULLIEVABLE wrote:
Victor Clayton wrote:
UNBULLIEVABLE wrote:
Victor Clayton wrote:
Good news I suppose, but I would have liked to hear the views of some estate agents based in Bradford!
Pretty sure Cleckheaton IS in Bradford, BD19 postcode... And as Joint MD of Bradford's largest independent Estate Agent I think a comment from James Watts qualifies pretty well!
I think that you will find Cleckheaton is in Kirklees. Postcodes mean nothing really, except to the post office. For example, grassington has a bd postcode but it's not in Bradford. Ilkley is LS29, but it is not in Leeds.
I think you'll find postcodes mean EVERTHING and are a huge factor in property values. The point I was trying to make is you did "hear the views of Estate Agents based in Bradford"
Not to mention getting insurance quotes...
[quote][p][bold]UNBULLIEVABLE[/bold] wrote: [quote][p][bold]Victor Clayton[/bold] wrote: [quote][p][bold]UNBULLIEVABLE[/bold] wrote: [quote][p][bold]Victor Clayton[/bold] wrote: Good news I suppose, but I would have liked to hear the views of some estate agents based in Bradford![/p][/quote]Pretty sure Cleckheaton IS in Bradford, BD19 postcode... And as Joint MD of Bradford's largest independent Estate Agent I think a comment from James Watts qualifies pretty well![/p][/quote]I think that you will find Cleckheaton is in Kirklees. Postcodes mean nothing really, except to the post office. For example, grassington has a bd postcode but it's not in Bradford. Ilkley is LS29, but it is not in Leeds.[/p][/quote]I think you'll find postcodes mean EVERTHING and are a huge factor in property values. The point I was trying to make is you did "hear the views of Estate Agents based in Bradford"[/p][/quote]Not to mention getting insurance quotes... The Hoffster
  • Score: 2

10:52pm Sat 4 Jan 14

Victor Clayton says...

UNBULLIEVABLE wrote:
Victor Clayton wrote:
UNBULLIEVABLE wrote:
Victor Clayton wrote:
Good news I suppose, but I would have liked to hear the views of some estate agents based in Bradford!
Pretty sure Cleckheaton IS in Bradford, BD19 postcode... And as Joint MD of Bradford's largest independent Estate Agent I think a comment from James Watts qualifies pretty well!
I think that you will find Cleckheaton is in Kirklees. Postcodes mean nothing really, except to the post office. For example, grassington has a bd postcode but it's not in Bradford. Ilkley is LS29, but it is not in Leeds.
I think you'll find postcodes mean EVERTHING and are a huge factor in property values. The point I was trying to make is you did "hear the views of Estate Agents based in Bradford"
Ilkley is NOT representative of Bradford and cleckheaton is NOT in Bradford.so my point IS we did NOT get a view of a Bradford estate agent. And since the story is about the housing market in Bradford we should have.
[quote][p][bold]UNBULLIEVABLE[/bold] wrote: [quote][p][bold]Victor Clayton[/bold] wrote: [quote][p][bold]UNBULLIEVABLE[/bold] wrote: [quote][p][bold]Victor Clayton[/bold] wrote: Good news I suppose, but I would have liked to hear the views of some estate agents based in Bradford![/p][/quote]Pretty sure Cleckheaton IS in Bradford, BD19 postcode... And as Joint MD of Bradford's largest independent Estate Agent I think a comment from James Watts qualifies pretty well![/p][/quote]I think that you will find Cleckheaton is in Kirklees. Postcodes mean nothing really, except to the post office. For example, grassington has a bd postcode but it's not in Bradford. Ilkley is LS29, but it is not in Leeds.[/p][/quote]I think you'll find postcodes mean EVERTHING and are a huge factor in property values. The point I was trying to make is you did "hear the views of Estate Agents based in Bradford"[/p][/quote]Ilkley is NOT representative of Bradford and cleckheaton is NOT in Bradford.so my point IS we did NOT get a view of a Bradford estate agent. And since the story is about the housing market in Bradford we should have. Victor Clayton
  • Score: 5

12:19pm Sun 5 Jan 14

BertSanders says...

Postcodes are important - selling a house or insuring a car will make it obvious. BD codes are not helpful.
Postcodes are important - selling a house or insuring a car will make it obvious. BD codes are not helpful. BertSanders
  • Score: -1

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