Second Quarter of 2021 Sees House Prices in Leeds Continue to Soar

September 1, 2021

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Article Summary

Leeds
  • According to the research, between April and June of 2021 house prices in Leeds, Wakefield and Wetherby have shot up 9.2% compared to the first quarter of year.

  • Despite a slight 1% increase in the number of properties listed in the Leeds, Wakefield and Wetherby region in Q2 compared to Q1 2021, there is a housing shortage in Leeds.

  • The number of first-time buyers in the Leeds, Wakefield and Wetherby region has been high, up a massive 46% during the first half of 2021 compared to this time last year.

Property prices in Leeds and the nearby areas of Wakefield and Wetherby have continued to perform exceptionally well in the second quarter of 2021.

In the house price index published by Manning Stainton, results show that despite the coronavirus pandemic and the end of the stamp duty holiday, the housing market is still booming.

 

Double-digit growth

According to the research, between April and June of 2021 house prices in Leeds, Wakefield and Wetherby have shot up 9.2% compared to the first quarter of year. And compared to Q2 of 2020, they have skyrocketed a massive 14.5%.

These findings further secure the city as a property hotspot, with both home purchases and investment properties in Leeds continuing to be in high demand.

 

A perfect storm

Despite a slight 1% increase in the number of properties listed in the Leeds, Wakefield and Wetherby region in Q2 compared to Q1 2021, there remains a housing shortage in Leeds.

And with demand growing as buyers return to Leeds, the result is a perfect storm leading to further house price rises in the area.

 

The lockdown effect

Good quality properties have seen the most demand, particularly those with three or more bedrooms. These kinds of properties have had record numbers of viewings and offers, with many going far above asking price.

It is likely the various lockdowns have been behind some of this. Being stuck at home led many people to revaluate their living circumstances and make the decision to move.

In fact, the number of first-time buyers in the Leeds, Wakefield and Wetherby region has also been high, up a massive 46% during the first half of 2021 compared to the same period last year.

But it isn’t just first-time owner occupiers. Leeds is now a top location for first-time investors, who are drawn to the region’s low entry costs and high rental yields.

 

Leeds investment opportunities

For people with an investment property in Leeds, the new figures are very positive results indeed. Having a Leeds property as part of an investment portfolio not only means some of the best rental yields in the country, but lucrative capital returns too.

And for those that don’t already own an investment property in Leeds, there are plenty of opportunities to do just that.

From the historic Horsforth Mill where units start at £164,950 with gross rental yields of 6.5%, to the luxurious Phoenix and strategically located Alexandra Park Apartments, both of which have entry prices of £149,995 and expected gross yields of 7%, Leeds has an investment for all kinds of buy-to-let investors.

 

What is property investment?

Put simply, property investment is property purchased with the intention of generating financial returns for its buyer. These returns could be in the form of rental income through buy-to-let properties, house price growth through the future sale of the property or both. Property investments can be owned by individuals or organisations and can be short, long or medium term.

 

Find out more

If you’d like to buy a Leeds property investment or would just like to see which property investment opportunities are currently available, contact North Property Group now.

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