Complete 2023 Guide.

Sheffield House Prices

Sheffield House Prices In 2023

  • In this report, you’ll find out what is happening to house prices in Sheffield in 2022.
  • You’ll discover the average house price in Sheffield and how it has risen since 2021.
  • And you’ll see Sheffield house price predictions for 2023, 2024, 2025, and 2026.
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Sheffield House Prices.

The average house price in Sheffield was £205,961 in June 2022.

This means that average sold prices have recorded a yearly rise of £14,798 (7.74%), with a £3,114 (1.54%) growth measured by the Land Registry in the last month.

Most sales in Sheffield over the last 12 months have been semi-detached properties, which sold for £205,022£10,505 higher than in June 2021.

Detached homes remain the most expensive, with an average price of £332,047£16,701 higher than a year ago.

Terraced properties sold for an average of £162,026, with flats fetching £133,546 – just £306 more than last year.

First-time buyers paid an average property price of £174,846, while non-first-time buyers paid £229,717.

Want to learn more about Sheffield property? View our complete guide.

House Prices in Sheffield 2022 vs 2021 

Property Type June 2022 June 2021 % Difference £ Difference
Detached £332,047 £315,346 +5.30% +£16,701
Semi-Detached £205,022 £194,517 +5.40% +£10,505
Terraced £162,026 £157,354 +2.97% +£4,672
Flats £133,546 £133,240 +0.23% +£306
Overall Average £205,961 £191,163 +7.74% +£14,798

 

What is Happening to House Prices in Sheffield 2022? 

You might be asking:

Are house prices rising in Sheffield?

And looking at the latest data from HM Land Registry, Sheffield house prices have consistently grown since 2020.

Sold house prices provided by the UK House Price Index reveal the overall average price of Sheffield property rose to £205,961 in June 2022, £3,114 higher than in the previous month.

This has subverted the domestic and regional trend of house prices slumping.

The Yorkshire region has seen prices drop by -0.42% since May 2022, with a report from The Guardian in August finding that UK house prices had dropped 1.3%, or £4,795.

Although these drops are said to be superficial, lining up with previous summer trends for the last decade, it shows that demand for Sheffield property listings remains high.

To show how strong the average sold price in Sheffield has grown, we took the average price of properties sold in Sheffield from Q1 2020 to Q2 2022.

And as you can see from the Sheffield house price graph below, this Yorkshire city has seen significant growth in property prices since Q2 2020.

So, if you want to know if Sheffield house prices will increase in 2022 or beyond, it seems likely that prices will continue to rise – especially when you look at the latest UK house price predictions.

Want to learn more about Sheffield rental yields? View our guide here.

Sheffield House Price Predictions 2022-2026 

According to several experts, the Yorkshire region is set to have some of the biggest house price growth in the UK.

Private research from Savills has anticipated a 10% growth in Yorkshire prices in 2022.

Although the market may see a slight correction in 2023 with a 0.5% drop, prices will soar again in 2024, 2025, and 2026.

Overall, the agency estimates a 24.3% rise in local house prices by 2026 – the joint-highest in the UK.

JLL has predicted a slightly more conservative 15% rise by 2026, with consistent growth seen across the period.

Whichever prediction you choose to believe, it looks like the asking price for Sheffield houses will continue to rise.

Interested in Sheffield property investment? View our complete guide.

Yorkshire and The Humber House Price Predictions 

  2022 2023 2024 2025 2026 Overall
Savills 10.0% -0.5% 4.0% 4.5% 4.5% 24.3%
JLL 3.5% 3.5% 2.5% 2.5% 3.0% 15.0%

 

Where Should You Buy Homes in Sheffield? 

Sheffield is one of the UK’s most popular places to live.

With fantastic job opportunities, affordable houses, and a slick city-wide transport system, thousands of people consider a Sheffield house move each year.

But with so many neighbourhoods and postcodes available, which one is right for you?

While you can read our guide on the best areas to live in Sheffield to learn more, we’ve taken a data-based approach in this report to reveal the 10 most expensive and affordable postcodes in the city.

You can find them below:

The Most Affordable Postcodes in Sheffield 

As of August 2022, the most affordable postcodes in Sheffield were S4, S14, and S9.

S4 covers the popular areas of Grimesthorpe, Pitsmoor, and Brightside, with an average price of only £99,361.

In second is S14.

This postcode encompasses the housing estate Gleadless Valley and has an average sold price of £120,341.

S9 follows closely behind with an average price of £124,656.

The postcode consists of several locations, including Attercliffe, Brightside, Darnall, Meadowhall, Tinsley, Greenland, and Lydden.

To learn more about the best areas to live you can view our full guide.

You can find the rest of the top 10 in the table below:

Postcode Average House Price
S4 £99,361
S14 £120,341
S9 £124,656
S5 £131,782
S1 £132,805
S70 £141,912
S63 £143,925
S64 £147,553
S61 £147,947
S3 £148,307

 

The Most Expensive Postcodes in Sheffield 

So, what about the most expensive postcodes in Sheffield?

According to Land Registry data from August 2022, the S32, S17, and S11 postcodes are the most expensive in Sheffield.

S32 is in Hope Valley and includes locations like Calver, Eyam, and Bretton.

You can expect average prices of £489,148 here.

S17 also breaks the £400k mark, with an average price of £433,906.

This postcode includes areas like Dore, Totley, and Bradway.

Finally, S11 covers Ecclesall, Whirlow, and Sharrow, with an average price of £398,996.

Postcode Average House Price
S32 £489,148
S17 £433,906
S11 £398,996
S7 £363,871
S10 £353,793
S33 £337,982
S18 £334,632
S42 £242,260
S36 £233,077
S8 £230,925

Want To Learn More About
Sheffield’s Best Areas To Live?