The latest data shows it's full steam ahead in the Leeds market
What a year it’s been for the Leeds property market so far. The amount of positive sentiment we’re picking up from buyers and sellers who visit the branch every day confirms that this part of the country is better insulated from the cold spell being experienced in some other parts of the UK market.
It didn’t take long before we started to see why people have been so positive. Data from the Land Registry shows that prices rose by 14.8 per cent over the last 3 years and now sit 140.5 per cent higher than they did in 2000. For context, that means that the average Leeds home has increased by £6,700 per year over that period.
But does this mean that the market has peaked? Not by a long shot. In fact, we think that the Leeds property market has a lot of steam left in it. The reason is simple; every market is underpinned by supply and demand. Here the supply is made up of a very high-quality housing stock, with a manageable amount of new build. The demand side, which is essentially all the lovely people who want to live here, is diverse, motivated and growing.
So we have lots of reasons to be confident that upward pressure on prices will continue and our market will go from strength-to-strength. If you’re thinking about making your next move in our area, make sure you give yourself the inside track, and the best way to do that is to use the help of a local market expert.
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