Wakefield Property Market

Wakefield's Growth

In recent years, Wakefield has experienced remarkable growth, and is quickly becoming an investment hotspot. Key indicators that make a hotspot such as population, demand for housing, property prices, and the local economy have all surged over the past five years, presenting an incredible opportunity for savvy investors looking to capitalise on a thriving market.

A major reason for this growth has been the large-scale regeneration projects that have transformed the city. Developments such as The Hepworth Gallery and the Trinity Walk shopping centre have not only revitalised the area but have also significantly boosted the city’s appeal.

As Wakefield continues to evolve, the city’s potential for future growth remains strong, making it a hotspot for property investment in the coming years. Investors who purchase properties in the city are well-positioned to benefit from the ongoing development and rising property values.

Increasing

Rental demand

42% of Wakefield’s population is under 35, usually, people within this age bracket are students or working professionals looking for properties that are in areas with great connectivity and a range of amenities for them to enjoy. Wakefield is an ideal city for this demographic, as it is able to meet the standards that renters require.

Throughout 2021, Righmove’s data revealed a trend that saw more people in the sales and rental markets moving further afield from cities with the hopes of finding a property in a more coastal or countryside location. According to research completed by Zoopla, in spring 2022, 44% of city livers wanted to move to a more suburban area. 

Wakefield has a range of stores, excellent transport links, and amenities, as well as more suburban locations, incredible parks, scenic walks, and outdoor activities. For these reasons, many renters are looking towards Wakefield for their next home, Wakefield’s demand is set to rocket, creating a secure place to invest.