Investment area of the month: Halifax

Properties in Halifax

Halifax offers investors a wide range of property types, typically, traditional stone-built terraces, flats, suburban housing estates and large Victorian properties. The beauty of Halifax is that there is a mix of urban living in the town centre and semi-rural in the outer villages.

Why Invest in Halifax?

If you are looking for a well-balanced investment, investing in the Halifax area which has a rising population, and therefore an increase in demand for housing should be a good option. House prices aren't unattainable so you can still see solid capital gains whilst aiming for a decent yield. According to Rightmove, gross rental yields in the area exceed 6% and average rent should reach £724pcm by 2025.

Popular areas in Halifax with average price and gross rental income

Two-bedroom properties in the following popular investment areas: -

Savile Park and Skircoat Green – to the southwest, these are popular residential areas and convenient for the town centre, train station and those who work at Calderdale Royal Hospital. Average price - £180,000 Gross Rental Yield – 6%

Illingworth, Mount Tabor and Norton Tower – to the west and northwest these areas are further out of the town but very accessible. Average price - £110,000 Gross Rental Yield – 7.64%

Pye Nest and Sowerby Bridge – to the south side this area has a good range of amenities, and the Hebble Navigation Canal runs through it. Average price - £140,000 Gross Rental Yield – 6.43%

Hipperholme and Lightcliffe – to the east side of Halifax these are village locations with great links to the M62 motorway network. Average Price - £200,000 Gross Rental Yield – 5.40%

What Halifax has to offer

Halifax has been dubbed the ‘Shoreditch of the North’ by BBC6 Music, thanks to its growing food, drink and music scene. The Grade I Listed Piece Hall is in the centre of the town and opened in 1779 as a cloth hall but is now home to many independent shops and restaurants surrounding the impressive courtyard. During the summer they host many concerts which bring people to the town from all over the country to see acts like Tom Jones, Rick Astley and McFly.

Transport in Halifax

Within the town itself, Halifax has almost 20 different bus services helping locals navigate the local area. For those looking slightly further afield, Halifax Train Station is a great option to get to Leeds in as little as 40 minutes and Manchester in roughly an hour and 20 minutes. Bradford and Huddersfield are easily accessible too, as are countless other locations in the North of England. It's great for commuters too as trains run regularly in the mornings, especially to Leeds where tickets are less than £5 and will get you there ahead of your working day. Halifax also has great Motorway links with the M62 spanning the Pennines and making Northern towns and cities easily accessible with the advantage of having spectacular countryside on the doorstep.

Why people move to Halifax

We see many tenants moving to the area to work at the Lloyds Banking Group and Calderdale Royal Hospital. Dean Clough Mill is also a very popular place to work and houses around 150 companies, art galleries and restaurants which contributes significantly to local employment. The local state Grammar Schools attract people from out of the area too and many families move to Halifax if their children are selected to attend.

So overall, Halifax is a great option for investors, with potential tenants spoilt for choice with a variety of different types of properties. Combine this with great transport links and it's likely the demand for rental properties in the area will continue to flourish.