Research by leading online estate agent, Emoov.co.uk, has highlighted where in Sheffield has potential as the next family property hotspots, due to the ongoing regeneration of the areas.
The average detached Sheffield home costs £284k, with a semi-detached property selling for £163,325. Recent research by Sheffield medical bosses highlighted the neighbourhoods where the life expectancy is above 70 years and Emoov has found that property in these neighbours commands a higher price as a result.
These areas have become popular amongst young professionals and families who are flocking to areas such as Fulwood, Dore and Ecclesall to buy property. Not only do these areas offer a longer life without health complications, but there are plenty of schools, green space and restaurants for young families to enjoy.
Fulwood is at the higher end of the Sheffield property spectrum where a detached home can cost over £1 million. In Dore, the average price paid for a detached property is £506,649 and a semi-detached costs around £340,000. One of the most popular areas at the moment is Ecclesall, where both a detached and semi-detached home will cost upwards of £200,000.
The majority of the prices in these areas are well above the average property prices in Sheffield but with homeowners enjoying 20 years extra without any major health problems, it could be well worth the price tag. This isn’t the case for areas such as Darnall, Arbourthorne and Burngreave. Medical research found that homeowners in these areas are more likely to suffer from health implications from the age 50 and with the areas less desirable reputation comes a lower cost of property.
However, a public health strategy has been designed to increase life expectancy across the city and encourage a healthier lifestyle among the residents. This will be tackled by cutting the numbers of smokers and teen pregnancies, while increasing active lifestyles among the residents. The plan will target food, exercise, tobacco and alcohol consumption in the areas of the city that happen to have the lowest property prices.
Between the regeneration projects and a push for healthier habits across Sheffield, the lower cost of property in the likes of Burngreave, where a detached home costs as little as £188,000, make it an attractive proposition for those looking to get on the ladder at a lower cost with one eye on the future and appreciating property values. The transformation in the area includes shops, restaurants and parks and within 20 years, the life expectancy is bound to boost because of the healthy lifestyle programs currently being implemented and the average property cost will rise, making it an up and coming neighbourhood.
The areas of Dore and Fulwood have always been popular places to live – this is reflected in the development of businesses and of the house prices in these areas.
The less desirable neighbourhoods of Sheffield are going through a regeneration by the council, which will be helpful in boosting them in upcoming years. People are starting to consider investing in property and in businesses, inevitably benefiting in the long run from the rising house prices.
The health strategies that are currently being implemented will help evolve these less expensive areas, which currently offer those looking to get on the sheffield ladder a more affordable option with the potential of a return of their investment in the near future.Emily Parkin