The postcodes driving Sheffield's property market boom
Purplebricks has revealed properties in S10, S11 and S17 are selling like hotcakes, with houses being sold within days and at significantly over the asking price.
News, Wednesday 10 February: Despite the latest lockdown, properties for sale in the S10, S11 and S17 postcodes are in high demand. This boom has been driven by the Stamp Duty holiday and more affordable lending from banks. This is particularly true in popular areas where the demand is very high and there is a shortage of properties for the number of buyers.
Luke Williams, Purplebricks’ Local Property Expert for Sheffield said: “There has definitely been a shift in Sheffield house buyers’ priorities over the past year, as they seek properties which are close to open countryside but also commutable to the city centre. People want more indoor living space, especially an extra living room to convert into an office or children’s playroom, and a bigger garden.
“S10, S11 and S17 postcodes have a lot of big, four and five bedroom detached houses. The areas are affluent, with very good primary and secondary schools, and border the Peak District with its stunning walks. These properties have always been popular, and people strive to live there. We’ve seen a lot of properties in these postcodes going for significantly over the asking price as there simply aren't enough houses compared to the number of people who want to live in these areas.
“Houses prices in S10, S11 and S17 have risen by ten to 15 per cent over the past year, and I think these areas will remain popular as people have reevaluated what they want from a home. My tip for buyers keen to move into these postcodes is to consider a property at the lower end of the market, such as a terrace, and use this as a stepping stone to a bigger property.”
Here are a few properties, Purplebricks, the UK’s largest estate agent, has sold in the last few days in S10, S11 and S17:
The Ridge, S10
Marketed for £495,000
9 offers (best and final bids)
Sold for £540,000 (£45,000 over asking price)
Sold in 10 days
Knowle Lane, S11
Marketed for £525,000
Sold for £590,000 (£65,000 over asking)
Sold in 9 days
Ringstead Ave, S10
Marketed for £335,000
12 offers (best and final bids)
Sold for £371,000 (£36,000 over asking)
Sold in 12 days
Wollaton Road, S17
First viewing offered £20,000 over asking price to take it off the market.
Vendor accepted at £300,000 so the property sold after two day
Purplebricks is the UK’s technology-led estate agent and offers customers a transparent and convenient way to buy, sell, or let. Purplebricks gives customers the combined support of Local Property Experts, an online platform and a central customer service team. More information can be found at www.purplebricks.co.uk.