The Intermediary –- May 2026 - Flipbook - Page 100
Nottingham
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WAKE
Each month, The Intermediary takes a close-up
look at the housing market in a specific region and
speaks to the experts supporting the area to find out
what makes their territory unique
s mortgage pricing
continues to shi in
response to changing
swap rates and
inflation expectations,
the housing market is
once again facing an unseled period.
Buyers, who have spent much of the
past two years gradually returning
to market, may now be delaying
borrowing decisions due to turbulence
linked to developing tensions in the
Middle East and the knock-on impact
on financial markets.
While affected by this backdrop,
however, Wakefield’s housing
market continues to appeal to a broad
range of buyers seeking relative
value, particularly compared with
neighbouring Yorkshire cities.
A
Current values
Wakefield’s property market
continues to offer comparatively
accessible pricing by UK standards,
with the average home currently
valued at £219,000. Values have
remained broadly flat over the past 12
months, edging down by just £74.
Activity is concentrated in the
lower and middle segments of the
market, with the £150,000 to £200,000
bracket accounting for the largest
share of sales at 24.7%, followed by the
£100,000 to £150,000 range at 20.0%.
By property type, detached homes
average £349,000, while semidetached properties sit at £208,000.
Terraced houses continue to provide
one of the market’s more accessible
entry points at £155,000, with flats
averaging £106,000.
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The Intermediary | May 2026
Purchasing activity
Wakefield has a residential market
that remains active, even as
transaction volumes have soened
amid wider economic uncertainty.
Around 6,000 property sales were
recorded across the postcode area over
the past year, representing a decline
of 14.9%, or roughly 1,200 fewer
transactions than the previous period.
For brokers on the ground,
conversations with clients have
become increasingly detailed and
financially driven.
Keeley Handlovics, mortgage broker
at KH Mortgages, explains: “The
market is moving at a steady pace,
the volatile market has not put my
clients off from achieving their goals
of moving or purchasing their new
home. I do feel clients need a deeper
conversation about interest rates than
ever before, so that they understand
what they are locking in at and for
how long.”
She adds that buyers are becoming
more conscious of affordability and
long-term budgeting, noting: “People
are being more cautious, and rightly
so. Clients need to feel heard and
they need to understand beer the
contracts they are entering.”
Adele Forbes, managing director
at West Yorkshire Money, similarly
describes a market growing steadily
rather than rapidly accelerating,
adding: “Overall, prices are rising, but
this is controlled, sustainable growth
rather than a market frenzy.”
Forbes highlights affordability as
key to demand, particularly relative to
neighbouring cities.
Even so, activity levels have become
more uneven in recent months. Forbes
describes the current environment
as “a classic ‘price sticky, activity
cautious’ market,” explaining that
while prices have remained relatively
resilient, “many buyers [are] holding
off due to uncertainty.”
This hesitation is particularly
noticeable among existing
homeowners weighing up the
financial benefits of moving.
Joshua Colley, director and
mortgage and protection adviser
at Trust Financial Solutions Ltd,
explains: “People are considering
whether to move or not, mainly
wanting extra space rather than
relocating for a move in area.
“However, the extra costs of gaining
such a small amount of space is
sometimes puing a lot of people off.”
