House prices have failed to shoot up in Huddersfield leaving thousands of home owners in potential negative equity.
National figures show house prices have reached record highs, but in Huddersfield only the HD4 postcode – one of the cheapest – has achieved its highest ever prices.
The average price in the postcode, which covers parts of Almondbury, Newsome, Crosland Moor and Netherton, was just £139,116.
House prices doubled across the region in 2000 but the lack of growth since the financial crash, means homes purchased between 2000 and 2007 may not be worth as much as they were bought for.
Land Registry figures reveal HD1, HD2, HD6 and HD7 postcodes are particularly at risk.
See how much a home bought in 2,000 could be worth now according to data from house sales.
Paul Keighley, a partner at Huddersfield estate agent Bramleys, said home sellers and agents needed to be realistic about prices.
“The prices haven’t recovered from what they were,” he said.
“If anybody did buy in the 2006, 2007 period they will likely be in negative equity.
“We’re not seeing it in particular postcodes, it’s right across town.
“Things will sell provided people are prepared to put them on the market at a realistic price.
“Unfortunately some agents advise clients that they will achieve higher figures than they will.
“Until realistic prices are used by everyone the market is going to struggle to recover.”
The gloomy news comes as property website Rightmove predicts at 28% rise in prices in Yorkshire by 2019.
The firm said property prices would soar outside of London after years of growth being led by the capital.
But Mr Keighley said he had no confidence in the massive growth prediction, calculated by independent consultancy Oxford Economics.
He added: “How anybody can predict a growth like that to 2019 in such an uncertain global market is beyond me.”
In HD1, covering the town centre, the average home changed hands for £128,628 in 2007. So far this year the figure stands at £116,759, still not above its pre-crash peak.
It is a similar story in HD2, where homes went for £154,721 in 2007 and £148,119 now.
The most expensive Huddersfield postcode, HD8, reached its record price in 2012, when the average cost of a home was £208,454. This year it is £202,405.
