The North Leeds Property Market Continues to Flourish

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    The property market in the north of Leeds is booming. Properties in this part of Leeds are more desirable than ever. Some houses here are being sold at some of the highest prices in the city; showing that Leeds investments have really taken off.

     

    Sought-after suburbs

    Although other areas of Leeds continue to be very popular, it is the northern suburbs that are seeing the highest demand. The neighbourhoods of Roundhay, Oakwood and Chapel Allerton are favoured by people looking for Leeds investments and homes alike, with many properties in these areas being sold for over the asking price.

    Compared to 2019, completed transaction rates for properties have doubled in these parts of Leeds. Properties are now being sold for an average of 99.8% of the asking price compared to the usual 96%. Some sold as high as 20% above asking price.

    Lockdown effect on Leeds Investments

    There seems to be no doubt that lockdown has had an effect on the popularity of north Leeds. Thanks to its beautiful houses, village-style charm, highly-rated schools. Along a good mix of independent shops and eateries, and fantastic outdoor space. It is no surprise that after months of being stuck inside; people are keen to move somewhere with a better quality of life.

    This could also be the reason why agents in the area have reported an increased number of enquiries from would-be buyers from London. For the price of a two-bedroom apartment in the capital, buyers can purchase a family sized home in north Leeds.

    Buy-to-let landlords are also increasingly focusing on the northern part of the city for a Leeds investment due to its status as the city’s most sought-after location.

     

    Tenant demand

    North Leeds isn’t just undergoing a surge in popularity from owner-occupiers. Renters are following the trend too, making this part of the city a safe choice for a Leeds investment.

    Rental demand in Chapel Allerton is particularly high. The wealthy, vibrant atmosphere here has given this part of Leeds the moniker ‘the Notting Hill of the north’ and it was even named as one of the best areas to live in the UK by The Sunday Times.

    Not only is demand high, but rental returns are good. For example, a Leeds investment in a buy-to-let property in Chapel Allerton will result in average rental yields of 5.5%.

    Find out more- Leeds Investments

    For more information about a Leeds investment in the north of the city – or anywhere else in Leeds – contact the Leeds property experts at North Property Group today.

     

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

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