News In The Hebden Bridge List

Property Market Still Buoyant In Hebden Bridge

With reports coming from around the country of property prices being set to plummet by up to 25%, it remains to be seen whether Hebden Bridge can buck this trend and retain the thriving property market it has had for many years. Will the current economic climate undermine the vibrant local property market to the same degree as has been predicted for many other areas of the UK?

A spokesman for one of Hebden Bridge’s most well known estate agents said that: “We have seen a slight decline in business, but not to the extent that some of the national media would have us all believe.”

“There is no doubt that the credit crunch has made it’s presence felt here, but I think we are fortunate in terms of location and facilities on offer, and will likely elude the worst of this difficult period.”

And yet, local developers appear to be demonstrating a great deal of faith in the continuing desirability of property in Hebden Bridge, and it’s ability to see off the downward trend other areas are experiencing. As an article in the The Guardian recently highlighted, Hebden Bridge remains an extremely popular destination for city dwellers looking to downshift. Proposals for the new mixed use development at Garden Street are currently awaiting approval by Calderdale MBC, and this will introduce another 48 new apartments and town houses if the planning application is successful. Yet many would argue that a large surplus of available property already exists, and that there is no need for any further developments in Hebden Bridge. Others feel even stronger about the matter, suggesting that the town has already passed the point of overdevelopment.

One local property developer we spoke to disagreed, he said: “I have every confidence that Hebden Bridge can and will sustain carefully considered new developments, and that given the popularity and reputation which the town has, any new residential units will soon become occupied. Hebden Bridge is far from overcrowded.”

Of major concern to some is the lack of affordable housing in the area, and the continuing desirability of the area has seen the many young people being priced out of the property market completely. Demand for the handful of social housing units dotted around the town far outstrips supply, and appears to be beyond the reach of all but the most needy. How this might affect a town economy heavily reliant on servicing a busy tourist trade, remains to be seen.

Regardless of this, it appears that the local property market does indeed have what it takes to withstand the pressures of the current economic climate.