Leeds House Prices Rose by £25,000 in 12 Months

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    The average property price in Leeds grew in value by £25,000 over the past year, new figures from the Land Registry show. This is an increase of 13.4% on Leeds property prices, proving again that Leeds investments can benefit from excellent capital gains.

     

    Regional price rises

    The results show that in the year to June, the average house price in Leeds made almost as much money as the average annual salary of a resident of the city. The performance of Leeds reflected the wider Yorkshire and Humber region as whole, which has consistently been one of the top locations for property price rises over the past 12 months.

    Between June 2020 and 2021, the average house in the Yorkshire and Humber region increased by a staggering 15.8%. But the capital returns really do depend on where in Yorkshire and Humber you invest in property.

    Property investors in Hull, for example, were less fortunate than those with a Leeds investment. The average house price in Hull only grew by 4.2% over the past 12 months.

     

    Growth across all property types

    It isn’t just cities in the same region that have seen different rates of property price rises. Within Leeds itself, different kinds of properties have seen different results.

    Prices of detached houses have increased by 14.5% over the last year, while terraced house prices have gone up by 14.5%. The value of semi-detached houses and flats has grown by 13.2% and 11.1%, respectively.

     

    Excellent rental yields

    As of June 2021, the average property price in Leeds now stands at £212,943. This is below the UK average of £265,668 and far below that of the nearby town of Harrogate, where the average house price is £312,000.

    But despite the low entry prices, investing in property in Leeds can generate some excellent rental yields. The increasing gap between supply and demand and the growth of the build to rent sector in the city is pushing rents higher across Leeds.

    Leeds investments can now generate their owners average rental yields of over 6%.

     

    Climbing the property ladder

    First time buyers in Leeds tended to spend under average when buying a property. They paid £182,000, which was still £21,000 more than a year ago.

    In comparison, people already on the property ladder spent £253,000 on a property. And with Leeds now the best place in the country for first-time property investors, many of these purchases may have indeed been investments into property in the city.

     

    Begin your investment

    If you’d like to find out more about investing in property in Leeds or anywhere else, contact North Property Group and start your investment journey today.

    Call Us:
    Leeds: +44 (0) 113 4264 444
    Manchester: +44 (0) 161 2449 060

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