If you're a homeowner, landlord or property investor looking to invest in Leeds, you may be interested to know that some neighbourhoods in the city have seen impressive increases in property prices over the last year. According to analysis of official figures, almost three quarters of neighbourhoods in England saw an increase in property prices in the year to September 2022, with some areas seeing prices rise by as much as 25% or more.
The UK House Price Index (HPI) shows that the average price for a home in England was £312,513 in September 2022, representing a 9% increase on the previous year's average of £286,832. The Office for National Statistics provides localised house price figures based on the HPI, breaking England into 6,809 neighbourhoods, known as middle-layer super output areas. Of these, 71% saw an increase in average house prices, with 12 neighbourhoods experiencing at least a 50% rise.
In Leeds, several neighbourhoods have experienced notable increases in property prices over the last year. Here are the top seven:
1. University & Little Woodhouse: Average house prices increased by 27.3%, rising by £45,000.
2. Boston Spa & Bramham: Average house prices increased by 24.1%, rising by £77,000.
3. Chapel Allerton South & Chapeltown: Average house prices increased by 23.3%, rising by £42,600.
4. Lincoln Green & St James: Average house prices increased by 22.7%, rising by £19,600.
5. Bramley East: Average house prices increased by 20.8%, rising by £31,000.
6. Seacroft North & Monkswood: Average house prices increased by 20.5%, rising by £27,750.
7. Beeston Hill & Hunslet Moor: Average house prices increased by 19.4%, rising by £17,500.
It's important to note that these figures cover small areas, so average house prices can fluctuate due to low sales numbers and may be influenced by factors such as new developments in the area. However, they do provide a useful snapshot of the property market in Leeds.
If you're considering investing in property in Leeds, it's worth doing your research to find the right neighbourhood for your investment. These figures may give you an idea of where to start your search, but it's always advisable to seek professional advice before making any investment decisions.
Source:
https://bit.ly/3HwcP0v
