Published: 26/03/2021 By ARIt must be said local knowledge is essential when it comes to the property and rental market.
At Dwell, we are immensely proud of being based in Leeds, and we are delighted to have a strong presence in many parts of the local area.
Our team work and live in Leeds, which ensures we have a personal as well as a professional connection to the communities we serve.
The LS6 postcode area is one we serve, and if you are looking for a property and rental market overview for this part of Leeds, we can help.
As of mid to late March, how is the local property market looking?
According to PropertyData, these are the properties which are available in the market:
- 36 detached properties listed
- 116 semi-detached properties listed
- 98 terraced properties
- 106 flats listed
- Number of properties with no bedrooms listed – 20
- Number of properties with one bedroom listed - 23
- Number of properties with two bedrooms listed - 98
- Number of properties with three bedrooms listed - 102
- Number of properties with four bedrooms listed - 84
- Number of properties with five bedrooms listed - 29
For a four-bedroom property, the average asking price is £314,000; and for five-bedroom properties, the price is £344,000 on average.
How is the LS6 rental market faring?
The average sold prices for property in the LS6 postcode area, again according to PropertyData are as follows:
- One-bedroom property has an average sold price of £137,000
- Two-bedroom properties have an average sold price of £182,000
- Three-bedroom properties have an average sold price of £247,000
- Four-bedroom properties have an average sold price of £321,000
- Five-bedroom properties have an average sold price of £357,000
The average rental fee per month for a studio property is £541 while for a one-bedroom property, the average rental fee is £589 per month. For a two-bedroom property, the average rental fee is £781 per month; and for a three-bedroom property, the average rental fee per month is £1,171.
For a four-bedroom property, the average rental fee is £1,579; and for five-bedroom properties, the average rental fee is £2,008 per month.
Studio properties in the LS6 postcode area offer a significant expected rental yield, coming in at 8.4%. For a one-bedroom property, the expected rental yield is 4.7%, it’s 4.8% for a two-bedroom property, and for three-bedroom properties, the expected rental yield is 5.0%.
For a four-bedroom property in LS6, the expected rental yield is 5.7%.
These are all favourable returns, even though the yield associated with a studio property is most appealing. Of course, these are just the expected yields, and it is possible for landlords to enjoy a more appealing return on their investment.
If you would like to enhance your chances of enjoying a more attractive rental yield, please contact us, and we will discuss your options.
We're an independent Estate & Letting Agents based in Leeds. We pride ourselves on high quality service and expert local knowledge delivered through focused, passionate, and well-trained staff. Our Team are residential property specialists with an intimate and unique in-depth understanding of our local market. Call us on 0113 246 4860.