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Bradford housing prices still lower than before recession
6:16pm Thursday 3rd July 2014 in News
House prices in Yorkshire and the Humber have increased in the last year - but they are still lower than just before the start of the recession in 2008.
Figures released by the Office for National Statistics (ONS) reveal a 5.6 per cent rise between April 2013 and last April.
But overall, prices are down six per cent on what they were in January 2008, according to the figures.
The ONS figures say the average house price last April for Yorkshire and Humber was £172,000. The UK average is £260,000.
A spokesman for ONS said: "Compared to the UK as a whole, Yorkshire and the Humber is under-performing."
According to property website rightmove, the average house price in Bradford is £108,164 - down from £124,592 pre-recession.
A similar study by Nationwide, which used their own figures, house prices in Yorkshire and the Humber had experienced a year-on-year increase of seven per cent.
Estate agents in Bradford gave a mixed reaction to the statistics.
Ford Coates, valuer and manager at Abbey Estates, Wibsey, said: "Prices are not going up in Bradford, although some areas are better than others.
"We are based around Wibsey and I would say it is stagnant at the moment - I don't think it has gone up round here."
Nick Townend, manager of Townend Estate Agents in Idle, said: "I would agree with the part about the six per cent decrease.
"But when you think about house prices going up and the properties we have for sale, none of those have increased by five per cent in the last year."
He added: "I don't think Bradford has altered a great deal - people have reduced prices to attract buyers. They have not gone up in Bradford."
Martin Lonsdale, managing director of Martin S.Lonsdale Estate Agents, said: "I have seen houses not achieving what they were back in 2007. Bradford is still probably bobbing along similar to last year, but down quite a few per cent from 2007."
He added: "We are selling more volume, but actual selling price is not achieving what we were pre-bank disaster."
She added: "It is definitely on the up. It could be perceived as slow at the top end, but semi-detached, provided they are not overpriced, they are selling within a few weeks."
She continued: "We saw an increase last year in our sales - one of our offices doubled the amount of sales.
"Generally we are happy with the way it is going and has gone. I don't think prices have gone up, but the confidence is coming back to the market."