Boost for prop­erty mar­ket in fu­ture City of Cul­ture

The spot­light is on Hull af­ter it was named the UK City of Cul­ture 2017 and it looks like good news for its prop­erty mar­ket. Sharon Dale re­ports.

Yorkshire Post - Property - - PROPERTY -

ES­TATE agent Dawn Towse is thrilled to bits by Hull’s suc­cess­ful City of Cul­ture bid but she is less than im­pressed with the North­ern stereo­typ­ing by na­tional me­dia.

“I know it was meant to be funny, but it is not ‘ull, it’s Hull,” she says of the dropped aitches in head­lines

Af­ter all, York­shire’s coastal city de­serves some re­spect. While it lingers at the bot­tom of house price sur­veys and has some of the cheap­est prop­erty in Bri­tain, it also has some very up­mar­ket ar­eas and its re­ten­tion rates are ex­cel­lent.

“Hull has a rep­u­ta­tion of be­ing at the low end of the prop­erty mar­ket with a lot of poverty but there are some amaz­ing places to live.

“When peo­ple move to Hull they of­ten stay here for­ever, which says a lot. They find that it has a got a huge amount to of­fer and the peo­ple are in­cred­i­bly friendly,” says Dawn, area man­ager for Quick and Clarke.

She lists at­trac­tions such as the Ferens Art Gallery, the Deep aquar­ium, The Hull Truck The­atre Com­pany and, of course, the Premier­ship foot­ball club.

The city has also given us the mag­nif­i­cent Hum­ber Bridge, and was home to the poet Philip Larkin and the House­martins.

Around £1bn has al­ready been spent on re­gen­er­a­tion here and when it dons the UK City of Cul­ture crown in 2017, the coun­cil ex­pects a £60m boost to the econ­omy. Its heir ap­par­ent sta­tus is al­ready hav­ing a pos­i­tive im­pact on the hous­ing mar­ket.

In­vestors, who bought up flats and ter­raced houses in the prop­erty boom, are trick­ling back and more are swiv­el­ling their an­ten­nae in its di­rec­tion.

“The City of Cul­ture news has helped. It has brought a feel good fac­tor and peo­ple know they are in­vest­ing in an area that has recog­ni­tion and has well-priced prop­er­ties that give great yields,” says Dawn.

Richard Beal, of house­builder Beal Homes, which is based in the city, adds: “New homes sales have al­ready picked up well, par­tic­u­larly at Kingswood Parks, one of the most pop­u­lar ar­eas of Hull, where sales are very buoy­ant.

“Cer­tainly, we ex­pect City of Cul­ture to add to the at­trac­tion of liv­ing here. The build-up to 2017 will show peo­ple out­side the city just how vi­brant Hull is and what a good qual­ity of life is on of­fer.

“With some of the coun­try’s best value for money homes, it is both an at­trac­tive and very af­ford­able place to live. “

Prices are sur­pris­ingly low. Dee, Atkin­son, Har­ri­son has a twobed­room flat on An­laby Road with a guide price of £10,000 to £20,000 in its next auc­tion, and there are ter­raced prop­er­ties from £30,000. In bet­ter ar­eas, a two bed­room ter­raced house costs around £80,000.

Some of the cheap­est homes are on the Bran­sholme es­tate, which is of­ten pre­fixed by “no­to­ri­ous”, though Dawn says: “Peo­ple in that area tend to want to stay there and some of the prop­er­ties are like palaces in­side. In Hull the mar­ket is po­larised be­tween East and West and peo­ple tend to stay in one or the other.”

One of the most de­sir­able spots is The Av­enues, where there are solid sur­vivors of the bomb­ing that rav­aged Hull in the Sec­ond World War. The large Vic­to­rian prop­er­ties there are around £300,000. The most sought-af­ter ar­eas around the city are West Ella and Kirk Ella, while Willerby and Cot­ting­ham are pop­u­lar thanks to good state schools. Even the most ex­pen­sive prop­er­ties there are con­sid­er­ably cheaper than those in York­shire hotspots.

“We al­ready have peo­ple who travel to work in York and Leeds,” says Dawn. “When the mar­ket was buoy­ant pre-2008 we saw a stream of peo­ple sell­ing a two bed­room house in places like York to buy a de­tached house here and I can see that hap­pen­ing again. You get a lot for your money here.”

Ian Hes­say, man­ag­ing di­rec­tor of Lin­den Homes, which has its re­gional head of­fice in Hessle, adds: “Those of us who live and work in Hull al­ready know this is a fan­tas­tic city.”

RIS­ING TIDE: Hull has a lot to of­fer home buy­ers and in­vestors, with low prop­erty prices and plenty of cul­ture.

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