It is really important for us to understand what’s happening in the housing market, and to be aware of how this may be changing.
Monitoring the housing market
We constantly monitor a number of different aspects of the housing market, such as average house prices, levels of homelessness and average mortgage rates.
This information is reported in the Housing Market Bulletin, a report we produce every quarter about the state of the housing market both in Sheffield and across the country.
We also produce a supplement to the bulletin twice a year which provides more detailed information about recent trends in each of the housing tenure types. Our Housing Market Bulletins are available to download.
As part of our responsibility to monitor the housing market in Sheffield, we routinely collect house price information from the UK House Price Index dataset, which uses sales data collected on residential housing transactions by the Land Registry.
The Land Registry information is widely considered the most reliable source of house price data because it includes all sales in England and Wales, cash and mortgage, and is not skewed by asking prices as some other house price information is.
We use this data to determine the average house price for each housing market area, ward and neighbourhood in the city. This is done by weighting the sale data for each area against the UK House Price Index average house price for the city.
Housing market area profiles
The Housing Market Area profiles are a series of reports and summaries that provide information on the housing markets and social characteristics of the 13 Housing Markets Areas (HMAs) in Sheffield. The HMAs represent a fairly distinct and unique housing market based on criteria such as house prices, types of housing and the types of communities living there.
The profiles are a narrative of the characteristics, neighbourhoods and housing in each of the HMAs. They identify the types and range of homes that are needed in the areas to meet current and future demand for housing in the city.
Information included in the profiles:
- different neighbourhoods in the HMA
- population and households in the area
- income levels and other economic information
- existing housing types, size and tenure, plus house prices, sales, private sector rents and social housing turnover
- neighbourhood information such as satisfaction, crime levels and school performance
- older people's accommodation
- planning information for the area, such as the numbers of new homes built in recent years and future land availability
- the housing needs and aspirations of households that will be moving in or to the area in the next 5 years
We will update parts of these profiles every year, although some parts can only be updated every 5 years.