How much would it cost to buy all the homes in the villages in East Hull?
This interesting question was posed by one of my East Hull village landlord’s teenage daughters
when they dropped into my offices before the Christmas break (doesn’t that seem an age away
now?).
I didn't know the answer off the top of my head, yet I promised I would find out. So, over the Christmas holidays, I worked out the total value of all the properties in the East Hull villages and, just for a bit of fun, worked out how much they have gone up in value since his daughter was born
in the autumn of 2010.
In the last 14 years, the total value of property in the villages in East Hull has increased by 45%, or £694.1 million, to £2,236,616,791 (or £2.236 billion).
Interestingly, the FTSE100 stock market has only risen by 38.5%. When I compared it to inflation (i.e. the UK Retail Price Index), this had risen by 51.1% during the same 14 years.
When I looked deeper into the numbers,
The average price currently being paid for an
East Hull village home stands at £191,091.
(East Hull villages are, for this exercise, all homes within HU12 and the average price paid in the last three months).
But regular readers of my property market blog articles know me. I wasn't going to stop there, so I split the property market down into the individual property types in the East Hull villages. The average numbers come out like this.
The property market of the villages in East Hull reveals an intriguing dynamic when comparing the total value contributions of different property types.
Detached houses have an average value of £276,667,000 and a total of £1.106 billion.
Semi-detached houses, with an average value of £187,083, contribute £912.4 million.
Terraced and townhouses, averaging £117,750, collectively amount to £189.3 million.
Apartments, with an average value of £79,000, still contribute a substantial £28.2 million.
This remarkable growth in property values over the past decade and a half reflects the fundamental strength of East Hull villages property market. But what does this mean for homeowners, home buyers, and landlords as we move into 2025 and beyond?
The East Hull villages property market remains underpinned by several key factors that ensure its resilience, even amid broader national and global economic uncertainties. Property ownership continues to be a stable and rewarding long-term investment for homeowners of East Hull villages,
buyers and landlords. While market conditions may fluctuate in the short term, history has shown that property values in East Hull villages tend to weather these ups and downs and emerge stronger over time.
A Growing Rental Market in East Hull Villages
For landlords, the rental market in East Hull villages remains an area of significant opportunity. Demand for rental properties is robust, driven by population growth, changing lifestyle preferences, and continued interest in the area from those seeking a quieter pace of life (compared to major cities). This demand keeps rental yields steady, offering landlords a reliable income stream and the potential for capital growth.
As East Hull villages continue to attract young professionals and families due to its excellent transport links, quality schools, and a sense of community, the appetite for quality rental homes remains strong. For landlords considering expanding their portfolios, now may be an excellent time to explore options in East Hull’s semi-detached or terraced housing market (even apartments if the
service charge is reasonable), which provides a good balance of affordability and rental potential.
Supply and Demand of New Homes in East Hull Villages
Another reason for optimism is East Hull villages' persistence under supply of new housing. I know some of you will say some parts of East Hull have looked like a building site for months, yet the fact is, we aren't building enough new homes in the area. With demand consistently outstripping supply, property values are thus supported, reducing the likelihood of significant price drops.
Borrowing Costs to Buy Homes in East Hull Villages
Although interest rates are higher compared to recent years; historic lows, they remain very manageable by historical standards. For those looking to buy their home in one of the villages of East Hull, this can still represent an opportunity to secure a mortgage and move up the property
ladder.
Meanwhile, the Bank of England's continued efforts to stabilise the wider British economy offers hope that rates may drift downwards, further boosting buyer confidence. Beyond the financial figures, East Hull villages have a lot to offer. Continued investment in local infrastructure, schools, and public amenities enhances its appeal as a place to live, work, and invest.
As always, navigating the East Hull villages property market can be complex. Whether you're considering buying, selling, letting, or even investing in buy-to-let, making informed decisions is essential. If you'd like to discuss your property related goals or have questions about the property market in the East Hull area, I'd be happy to help. My door is always open for a no obligation chat.