Honley Rental Market
Looking to Rent in Honley?
You’ll be lucky! With demand far outweighing supply, we spoke to a Honley estate agent to find out what is causing the shortage of rental properties in our popular village.
Just a quick browse of the Honley Community Facebook group and you will see that demand to rent is greater than supply.
As the search for two- and three-bedroom properties continues to soar, many are being let before they hit popular search engine sites such as Rightmove and Zoopla.
A Lack of Rentals
James White, of Belong in Honley, said: “New landlords are looking for cheaper houses outside of Honley and established landlords in Honley are cashing in while the housing market is buoyant.
“A two- or three-bedroom terraced house in Honley could set you back more than £200,000. It could be rented for £700 per month.
“Outside of Honley, that house could cost £30,000 to £40,000 less. The difference in rent is just £50.
“This makes new landlords want to buy outside of Honley because in doing so they are getting more monthly return on their investment.”
A Stagnant Market
The number of properties being sold and rented in Honley remains low, with many people wanting to move but unable to do so.
“Government changes to tax and legislation means landlords are now having to do more to meet legal requirements,” said James.
“After the credit crunch, prices remained low for 10 years. Now there is an increase in property values, some established landlords are selling up and new landlords are being put off by the higher prices and increased legislation.
“With a lack of available properties, people would rather stay put than risk losing their home in Honley, particularly if they have children in school,” he said.
What’s So Special About Honley?
“The Honley housing market is very much in demand because Honley is unique. You can pretty much live your life in Honley,” said James. “As well as three schools, there are more than 130 businesses here, doctors, dentist, opticians and a pharmacy.
“Honley really does have everything from the butcher and baker to the candlestick maker.
“We are 24 miles from Leeds, Manchester and Sheffield, making it ideal commuter territory.
“As well as a vibrant village, we have a rail service to Huddersfield and Sheffield, bus services and beautiful countryside, including open fields, woodland and a river, which provide rural activities on our doorstep.
“We have an abundance of year-round activities for all the family. Honley is a beacon for any village as it provides everything needed for a local community.”
Why is Honley More Expensive?
Honley’s proximity to three neighbouring cities makes it a desirable location to people from outside of the area.
“You only need to look at Facebook to see the number of people posting to say they are new to the area and are looking for a tradesperson,” said James.
“People working in the cities tend to attract higher salaries than those working in smaller, rural communities. Those salaries, combined with a high demand for a popular village and financial credit being more freely available, are forcing prices up.”
Are Landlords Allowed to Refuse Pets?
“Yes,” said James. “In 2021, the Government changed the voluntary tenancy agreement, which included deleting the pet exclusion clause, but they didn’t make it legislation.”
How Can I Rent in Honley?
“Stock is low and I can’t see the situation changing any time soon,” said James. “The best advice I can give is to register with estate agents in Honley. They have their own databases to match people before properties hit Rightmove.
“Reach out on social media. Some people advertise their own property, others ask to rent or buy. Someone may see your post and have just the property you are looking for.”