Leeds is the biggest city in Yorkshire and one of the biggest, and fastest growing, in the country. It also represents a great opportunity for buying property.
Leeds – Great Investment for Buy-to-Let
Leeds is not only the fastest growing city in the UK (according to the local government) it is also set for growth of 21% in business and financial services, which makes it a great place to invest in property. This can either be buying a home for oneself or investing in buy-to-let. Perhaps contrary to expectations, this is actually a better deal than doing so in London, with return on investment yielding 8.7%, more than double London’s 3% (according to Dwell Leeds Estate Agents). Average property prices are just over £250,000 (higher than the Yorkshire average but significantly less than London) and there’s a broad range of price points which means that value for money can be achieved whether entering at the top end or the lower side of the market.
In the 10 years from 2008 to 2018, covering the financial crisis, recession, and recovery, Leeds saw some very strong growth in property prices. Top of the tree for that period was LS20, which saw average house prices increase by a whopping £85,000. This may well be down to the proximity of schools and shops, which make a house in that postcode eminently convenient for everyday life.
Location Matters (Especially for Business)
Location, location, location. That is what counts when it comes to buying properties in the real world, whether in Leeds, other major UK cities, or rural areas. For business purposes, the importance of a location is a vital matter, as it determines how easy or hard it is for customers, clients, or patrons to find your establishment. A particular feature of Leeds is that there’s a notably small amount of parking and the city centre’s one-way system can lead to tangled traffic. On the flipside, Leeds railway station is one of the busiest in the country, making the city peculiarly good for rail travellers and trickier (in the heart of Leeds, at least) for those coming by car.
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Popular Horsforth
One of the most desirable places in Leeds to buy is Horsforth, and there’s no shortage of real estate potential in this popular area. While some properties do tip the scales at seven figures, many are far more affordable and can be good options either for a second home or as a first-time buy.
A terraced property on Low Lane can be acquired for £265,000 at the time of writing, which is good value for money given the four bedrooms and a cellar contained within. Buyers can also benefit from strong transport links, including rail, and good schools nearby, making it a great pick for families looking to buy.
A little pricier at £400,000, Craggwood Close is a Horsforth detached bungalow with three bedrooms. There’s also a garage and room for three cars to be parked, alongside a garden. The bungalow is situated in a cul-de-sac which makes it relatively quiet, with both Forge train station and woodland walks within easy reach of the door.
The Top End of the Market – Rawdon
It can be tempting to think of value for money as synonymous with affordable, and for many people it is, but even those who have plenty of cash and are after a top-end home want to achieve bang for their buck. This is one area where Leeds has the clear advantage over London, where property prices are more affected by functioning as an investment by the internationally rich. Rawdon is a great place for those who have seven figures to spend and want a great place to live.
Available at the time of writing, Buckstone Hall offers a uniquely historic property for £850,000. Dating back to the 19th century, the stylings of this idiosyncratic home live up to the expression “an Englishman’s home is his castle”. There’s ample space outside too, with half an acre of grounds and woodland. Rawdon is minutes away and there’s an airport and rail station close at hand.
While not as historic, Skye House provides even more space inside, with five bedrooms and four bathrooms in this £1,450,000 property. There’s also a detached double garage, a gym, and a cinema, and a large garden, making this a good pick for those looking to raise a family or who enjoy some green-fingered relaxation.
Affordable Options
There are also plenty of bargains to be had for those looking to climb the first rung of the housing ladder. For £135,000 a three-bedroom property on Nowell Terrace is available. The three-floor property has bedrooms on the first and second floors, while the ground floor includes the lounge and kitchen (bathroom is on the first floor). Local shopping and easy access to the centre of the city make it a convenient choice for first-time buyers.
Also in Harehills is a £130,000 back-to-back terrace property on Compton Row. Three bedrooms make it ideal for those with a small family, and it’s close to local shops with good transport links to quickly reach the city centre. In addition to the living room, kitchen, and bathroom, the property comes with a cellar.
Leeds is a growing city and has seen rapid growth in house prices already. Whether buying at the low or top end of the market or somewhere in between, there’s great value for money to be had in Yorkshire’s biggest city.
