The Hull Property Market in 2025: Trends, Challenges, and Opportunities

The UK property market is always evolving, and Hull is no exception. As we move through 2025, local buyers, sellers, and investors need to understand the key trends shaping Hull’s property landscape. From shifting house prices to mortgage rates and regional demand, this guide will help you navigate the opportunities and challenges in Hull’s property market this year.

House Prices in Hull: How Are They Changing?

Hull has long been known for its affordability compared to other parts of the UK, but recent data suggests a shift in pricing trends. According to Rightmove, the average property price in Hull over the past year is £162,186. This represents a 2% decrease from the previous year and a 3% decline from the 2022 peak of £166,579.

Breaking Down Property Types:

• Terraced Properties: £129,226 (a modest decrease due to high demand among first-time buyers).

• Semi-Detached Properties: £180,591 (remaining stable as families look for more space).

• Detached Properties: £289,058 (a slight decline as affordability limits potential buyers).

Despite the minor overall decrease, certain areas within Hull are experiencing price growth. The HU5 postcode, encompassing popular areas like The Avenues and Newland Avenue, has seen a 3% increase in average property prices, now at £145,391. (rightmove.co.uk)

Mortgage Rate Trends and Affordability

The Bank of England’s recent monetary policy adjustments have influenced mortgage rates. As of February 2025, the base rate has been reduced to 4.5%, making borrowing more affordable for prospective buyers in Hull. However, affordability remains a key challenge, particularly for first-time buyers facing rising living costs and stricter lending criteria. Working with a local mortgage broker who understands Hull’s market conditions can help buyers secure the most competitive rates.

Supply and Demand in Hull

Hull’s property market continues to see high demand, particularly for affordable homes in well-connected locations. While the number of new listings has increased by 10% compared to last year, demand still outstrips supply, especially for family homes and properties in sought-after areas such as Kingswood and Hessle.

New-build developments in Kingswood and Hessle are helping to ease supply constraints, yet competition remains fierce. Sellers in these areas are benefiting from quicker sales and strong offers, making it an advantageous time to list a property.

The Rental Market in Hull: Strong Demand and Rising Rents

Hull remains one of the most affordable cities for renters in the UK, with an average monthly rent of £799—48% below the national average of £1,526. Despite an 8.2% increase in rental costs compared to last year, Hull continues to attract renters due to its affordability relative to other UK cities. (rightmove.co.uk)

Landlords are benefiting from this strong demand, particularly in areas near the city centre and the University of Hull, where rental yields are among the highest in the region. However, landlords must remain aware of evolving regulations, such as changes to Section 21 evictions, which could impact long-term investment strategies.

Is Now a Good Time to Buy or Sell in Hull?

For sellers, Hull’s relatively stable prices and high demand make it a great time to list a property. Well-priced homes in desirable areas are selling quickly, often above the asking price.

For buyers, while property prices are slightly declining, the expected stabilization of mortgage rates makes purchasing a home in Hull a sound long-term investment.

Conclusion

Hull’s property market in 2025 presents a mix of challenges and opportunities. Whether you're looking to buy, sell, or invest, staying informed is crucial.

If you’re thinking about buying or selling in Hull, get in touch with Lime Property today. Our local experts can help you navigate the market and find the best opportunities available. Contact us now for a free property valuation or consultation!