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Huddersfield Buy-to-Let Guide

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    Everything You Need to Know About Huddersfield Buy-to-Let

    Huddersfield is a town on the rise when it comes to buy-to-let investment. It has a reputation for affordable property and good average rental yields.

    Huddersfield is also known for its appealing location, attracting demand from investors and tenants alike. Located in Kirklees, this West Yorkshire town is conveniently between Leeds and Manchester and close to Halifax and Bradford.

    But is Huddersfield all it’s cracked up to be? Our guide will give you the full lowdown on how buy-to-let works in Huddersfield and lay bare its investment credentials.

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      Huddersfield aerial view

      Buy-to-Let Property Prices in Huddersfield

      According to Rightmove, the average Huddersfield property price in 2023 was £199,121. This is similar to the 2022 figures and 10% higher in 2020. The UK House Price Index shows that the average UK property is worth £287,782, which makes the cost of a buy-to-let in Huddersfield significantly cheaper than the national average. This is good news for Huddersfield buy-to-let investors, who should be able to find a good deal on property in the area.

      The slow growth that the town has experienced can be observed across the UK property market, but it’s important to look at long-term trends rather than inevitable ebbs and flows that occur in the short term. Huddersfield property has displayed impressive growth in the past, and the Yorkshire and the Humber region as a whole are forecasted to return to healthy capital growth in the next few years. Property expert Savills predicts the mainstream capital value of this region will grow 20.2% by 2028.

      Earlier this year, demand for flats in Huddersfield increased the fastest in the UK, as reported by Zoopla. According to Yorkshire Live, this jump in demand can be attributed to homebuyers looking at cheaper towns as opposed to cities, and Huddersfield’s affordable property prices have made it a destination of choice.

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      Buy-to-Let Rental Market in Huddersfield

      According to housesforsaletorent.co.uk, the average monthly rent for a property in Huddersfield is £830 PCM. This is much lower than the UK average rent of £1,268 PCM, per the December 2023 HomeLet Rental Index.

      Due to a chronic undersupply of rental properties across major cities and towns in the UK, rents in Huddersfield are likely to continue increasing in the next few years.

      Another advantage is that Huddersfield is a university town, meaning there are options for investment in student accommodation in the area.

      A report from SpareRoom reveals that average room rents in Huddersfield have increased by 12% in one year. The report also states that it is the least expensive town or city to rent a room in the UK, which will add to its attractiveness to students.

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      Buy-to-Let Investment in Huddersfield: Area Breakdown

      The Huddersfield Town Centre offers some good value property and is popular with students and those who want to be close to the amenities of central Huddersfield. Surrounding suburbs such as Marsh, Paddock, and Milnsbridge can offer even cheaper property than the town centre on average.

      Areas like Moldgreen are popular with students thanks to affordability and proximity to the university campus.

      Residential areas like Lindley are a bit further out and are desirable places to live, although the property is usually pricier.

      There are also more rural villages and towns, such as Holmfirth and Brighouse. Some of these areas further out from Huddersfield are popular with commuters, such as Slaithwaite and Marsden, as they have train stations with convenient services to Huddersfield, Leeds, and Manchester and good local amenities.

      Huddersfield Town Centre (HD1)

      Average Property Prices in HD1

      The average property price in this area is £147,667.

      Average Rental Yield in HD1

      The average rental yield in this area is 5.43%.

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        Huddersfield street view

        Paddock

        Average Property Prices in Paddock

        The average property price in this area is £126,993.

        Average Rental Yield in Paddock

        The average rental yield in this area is 6.36%.

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        Huddersfield street view

        Moldgreen

        Average Property Prices in Moldgreen

        The average property price in this area is £168,560.

        Average Rental Yield in Moldgreen

        The average rental yield in this area is 4.84%.

        (Average property prices were taken from Rightmove in late 2023, and gross rental yield estimates were calculated with figures from housesforsaletorent.co.uk in late 2023)

        What is the Best Area of Huddersfield to Invest In?

        Property in popular commuter towns like Marsden may be more expensive than central Huddersfield, but a decent rental yield can still be achieved if the area is chosen wisely. Other villages on the outskirts, like Holmfirth, are too pricey to offer a good yield.

        Lindley property is highly sought-after, so investors may be interested in the area, but if you’re looking for a high rental yield, Lindley may be disappointing.

        Overall, the Huddersfield Town Centre, as covered by the HD1 postcode, is a hotspot of cheap property and high rental yields. Some suburbs within HD1, such as Paddock, seem to offer an even better deal.

        We have identified Milnsbridge as an area of Huddersfield with a particularly high rental yield and an average property price much lower than the Huddersfield average.

        More Information: Stay up-to-date with the UK property market! Take a look at our UK interest rates chart for the latest developments

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          Why You Should Consider a Buy-to-Let Investment in Huddersfield

          Regeneration

          Thanks to ongoing regeneration projects in the Huddersfield town centre, £1 billion of investment is being poured into the area. There are 11 major schemes in and around central Huddersfield over the next few years that will revamp the area, delivering new homes, employment opportunities, businesses, and green spaces.

          The most notable is the Huddersfield Blueprint, a massive project spanning ten years that will transform the town centre and cost £250 million.

          Student Accommodation Investment

          The town is home to the University of Huddersfield, which has nearly 20,000 students studying on campus.

          Targeting student renters is one way to ensure consistent demand, as a steady stream of new students will arrive every year. The downside of this is frequently changing tenants, but many investors believe this inconvenience to be worth it, as student property can often offer much higher rental yields than standard residential buy-to-lets. Several students will usually live together, meaning landlords can charge for each room and maximise rental income.

          modern apartment building in city. front exterior of newly built apartment block with balconies. city living in the UK

          Huddersfield New-Builds

          The Huddersfield Blueprint aims to deliver a variety of new homes to transform the area into a “great place to live.” If this scheme successfully boosts the area’s appeal and increases tenant demand, Huddersfield may become more popular among private developers as a new-build location.

          New-build properties have recently seen increased interest from landlords due to the imbalance between supply and demand for UK housing. For landlords, there are fewer upkeep/lower maintenance fees since the building is freshly built. For tenants, as new-builds are typically outfitted with trending amenities and appliances, new-builds are often more appealing compared to standard, older residential properties.

          Student accommodation is one of the most popular forms of new-build investment. Investors interested in this strategy may find some options in Huddersfield, but it could also be worthwhile to look at cities with a larger student population, such as Liverpool and Manchester, and new-builds in Bath.

          For those searching for investment opportunities in Yorkshire, it may also be worth widening the search to other major towns.

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            Off-Plan Property in Huddersfield

            Demand for new-build properties is rising, but they are usually more expensive than older residential properties.

            One way for investors to mitigate costs is to invest in new-builds off-plan. Off-plan investments are properties bought in the planning/construction stage of development, typically at a discounted price and with flexible payment plans.

            Opportunities for off-plan and new-build property investment in Huddersfield will likely increase over the coming years as regeneration work continues in the area.

            However, right now, a wider variety of off-plan or general new-build investment opportunities may be more concentrated in other major UK cities – such as Liverpool or Manchester.

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            How Does Huddersfield Compare to Other UK Regions When It Comes to Buy-to-Let?

            Huddersfield can offer some great benefits to property investors, but how does it stack up to other areas?

            Huddersfield is home to some affordable properties, cheaper than the UK average and much cheaper than a property investment in London. But Huddersfield isn’t alone in offering more affordable property than the UK average, as this is true of many major northern towns and cities. For example, according to the UK House Price Index, the average Liverpool property is cheaper than those in Kirklees.

            According to Savills, the capital growth forecast for Yorkshire and the Humber is also the same for other northern regions such as the North West and Scotland. All three regions are predicted to grow 20.2% by 2028.

            It seems that many northern cities can offer comparable advantages to Huddersfield, and many investors will opt for more major cities, like Liverpool and Manchester buy-to-let, that appeal more to tenants and have more guaranteed demand.  Why not read more about investing in student accommodation with our additional property guide.

            Further Reading: Delve deeper into the North West rental market with our guide to buy-to-let property in Bootle or take a look at some of the available new builds in Manchester!

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              Want to Invest in Huddersfield in 2024?

              So, is Huddersfield the best place for buy-to-let in the UK?

              The area has arguably proved itself as an up-and-coming hotspot for investment thanks to relatively cheaper property, good capital value appreciation potential, and high rental yields.

              But it’s also worth looking at more established northern cities when on the lookout for a buy-to-let investment opportunity, as there can be similar benefits in more sought-after areas such as Liverpool and Manchester.

              If you want to learn more about the different buy-to-let hotspots the UK can offer, take a look at some of our guides:

              Map of Huddersfield

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              Author

              Jessica Ferris

              Jessica is a property content writer at RWinvest. Keeping a close eye on the UK property market, Jessica helps our readers stay informed and up to date on the latest market news and statistics.

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