Leeds Annual Housing Market Index
Highlights:
· The average price of a home in Leeds is currently £152,247
· Average house prices in Leeds have increased 2.6% since 2006 (up from £148,390)
and increased 7.6% between 2005 and 2006
· Terraced homes were the most popular properties in Leeds in 2006, making up 37.1% of sales
· Semi-detached homes have experienced the strongest price growth over recent years, with prices currently standing at £157,112 , up 3.1% on 2006 and 4.5% between 2005 and 2006
House Prices & House Sales
The Leeds property market experienced positive growth in 2006, with average prices up 7.6% on the previous year and increased sales, up 28.3%. The town has a wide appeal, offering a range of different properties with varying price tags. The traditional family terrace continues to hold firm, with the number of sales consistently outstripping other property types each year since 2000. However, average prices for these homes in Leeds remain low, with the typical price of a terrace home 20% lower than that of an apartment
in the city.
Summary
Average house prices in Leeds remain strong, up 3.1% so far in 2007 and recording a 4.5% increase between 2005 and 2006. Terraced homes continue to offer the most promising outlook, with prices growing at a rapid rate (11.4% between 2005 and 2006), although still remaining affordable, with an average price below £120,000.
Terraced homes top the property mix in Leeds - making up almost 40% of all sales in 2006, and continuing at the same level in 2007. Semi-detached properties are a close second to terraces, both in number of sales and in price growth.
The popularity of Leeds with retirees and young professionals continues to drive the sale of smaller properties, but while overall sales are on the increase, a lower than average proportion of property in the city centre is owner-occupied. Although this is partly due to a high number of socially rented homes, this also indicates the strength of the local rental market. As well as offering an avenue to first time buyers and young families, the high volume of terraced homes and continuing low costs have brought many investors to the market, attracted to the established university town which boasts a dynamic local economy and a well supported infrastructure.
Download the pdf document to view detailed illustrations of the Leeds housing market
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