Is Rotherham Expensive for Property?

Rotherham is a historic market town in South Yorkshire, just 7 miles northeast of Sheffield and 10 miles southeast of Barnsley. It’s faced the challenges of the decline of both the coal and steel industries, but a considerable revival is under way and the future looks brighter.

But where does all of this leave the town’s property prices? And is Rotherham expensive for property? 

Good news for budget-conscious buyers

While it’s an increasingly nice place to live,Rotherham continues to offer a relatively affordable housing market. At just £188,000 for 2024, the average house price is significantly lower than the national average (291,000). This makes it an attractive option for first-time buyers, investors, and those on a tight budget.

House prices in Rotherham increased by much less than the regional average in the past year too. The increase was just 2.4%, putting it behind both the regional and GB averages (4.7% and 3.5% respectively).

But there are big price variations across the town

Affordability within Rotherham itself can vary greatly. There’s a significant north-south divide in property prices. Herringthorpe, Ravenfield, Thrybergh and central Rotherham, offer some of the most affordable options. On the other hand, Whiston, Morthen, and Moorgate are home to many luxury properties with a price tag to match.

Property price changes are a mixed but remain attractive

Rotherham’s property market has proven resilient over the past year. Prices have increased slightly more modestly than the national average, with the average house price in Rotherham up by 2.4% in the year to June 2024, while the national average increased by 2.7%.

Semi-detached property prices in Rotherham outperformed the national average, increasing by 2.9% compared to 4.0% nationally. Detached and terraced properties saw increases in line with the national average, while flats and maisonettes experienced a slight decrease.

The Rotherham rental market is strong

The rental market in Rotherham has been experiencing a steady increase. The average monthly private rent in July 2024 was £614, up from £574 in July 2023. This is an appealing 7.0% rise, indicating growing demand for rental properties in the area.

Still, while rental prices are on the rise, they remain relatively affordable, making Rotherham an attractive option for renters seeking a cost-effective place to live, particularly if they work in Sheffield or Leeds.

Rotherham’s rosy future

Rotherham has benefited from significant regeneration efforts in recent years, including the redevelopment of key areas, the creation of new public spaces, and investments in infrastructure. But what’s coming could be even more impressive.

For example, Rotherham’s town center is undergoing a bold transformation, under the Rotherham Town Centre Masterplan. This large-scale plan details a range of developments aimed at revitalising the area through a new leisure scheme, improved public spaces, a revitalized markets complex and high-quality riverside living. There have also been significant investments in transport projects in recent years.

Rotherham is relatively inexpensive — at least for now

Rotherham is a very affordable property market by national standards. The average house price in Rotherham is significantly lower than the national average, so it’s an attractive option for buyers. For forward-looking investors it’s an attractive destination. It’s also appealing if you’re a buyer looking to make your money go further.

But with rapid large-scale regeneration in the pipeline, more expensive times may be ahead for Rotherham property buyers. And it’s important to keep in mind that the town has some big disparities in prices from north to south. From these factors the conclusion is do your homework, but move quickly to make the most of Rotherham’s affordability.

At SellHouseFast.co.uk, we have a deep understanding of Rotherham’s property market, so if you need to sell your house fast, we’re here for you. We’re experienced cash house buyers, and we buy any house UK wide using our uniquely personal, efficient, transparent service.

Contact us today to get your free cash offer and chat about how we can help you make your next exciting move in your property story.