Updated for 2026: for the latest figures, read Hull Property Market 2026: Prices and Trends.
As we navigate through 2025, Hull's property market presents a dynamic landscape for buyers, sellers, and investors. This comprehensive report delves into current trends, housing prices, rental yields, and future projections, offering valuable insights for stakeholders in Hull's real estate sector.
Current Housing Prices in Hull
As of November 2024, the average house price in Kingston upon Hull stands at £145,000, marking a 6.6% increase from November 2023. This growth outpaces the regional average in Yorkshire and The Humber, which saw a 5.7% rise over the same period. Detached properties average £263,000, semi-detached at £164,000, terraced houses at £128,000, and flats at £96,000.
For first-time buyers, the average property price is £133,000, reflecting a 6.8% increase from the previous year. Homes purchased with a mortgage average £150,000, while cash buyers see an average price of £133,000.
Rental Market Overview
The rental sector in Hull is experiencing significant growth. As of December 2024, the average monthly rent is £627, a 10.1% increase from £570 in December 2023. This surge surpasses the regional rental growth of 5.4% in Yorkshire and The Humber. One-bedroom properties rent for an average of £449, two-bedrooms at £557, three-bedrooms at £670, and four or more bedrooms at £900.
Flats and maisonettes have an average rent of £507, terraced properties at £619, semi-detached at £667, and detached properties at £874.
Investment Opportunities in Hull
Hull's property market offers promising opportunities for investors. Since 2012, property prices have risen by £46,641, equating to a 55.2% increase. Projections indicate that properties in Yorkshire and The Humber will experience a 28.2% growth by 2029. Notably, Hull boasts an average rental yield of approximately 7%, surpassing the UK average of 5.11%.
Key areas for investment include postcodes HU2, HU1, HU9, HU3, and HU6, each offering varying average house prices and rental yields. For instance, HU2 presents an average house price of £102,153 with a rental yield of 10.80%, making it a lucrative option for investors.
Housing Development and Future Projections
Hull City Council has adopted a Housing Growth Strategy for 2025-2031, aiming to add nearly 6,000 homes to the city's housing stock. This initiative focuses on increasing affordable housing and expanding the council's own housing inventory. The strategy includes identifying developable small sites, acquiring existing properties in need of repair, and collaborating with developers and housing operators to meet the annual target of 993 new homes.
These developments are expected to stabilize property prices and meet the growing demand, offering a balanced market for buyers and investors.
Challenges Facing Hull's Property Market
Despite the positive outlook, Hull's property market faces challenges such as rising interest rates, affordability issues, and supply shortages. The increase in interest rates has made mortgage payments more expensive, impacting first-time buyers and existing homeowners. Additionally, the shortage of affordable housing continues to be a pressing concern, necessitating strategic planning and investment to address the housing needs of low-income families and key workers.
Environmental sustainability and compliance with new planning regulations also pose challenges, requiring developers and homeowners to invest in energy-efficient upgrades and sustainable building practices.