DCSIMG

Thousands of homes needed in hotspot

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YORKSHIRE’s Property ‘golden triangle’ will need an extra 150,000 homes in the next two decades according to new figures.

Property consultancy Savills said demand for homes was increasing pressure to build on green belt and greenfield land in the area which takes in Leeds, Harrogate and York.

Its research suggests 150,000 houses will be needed to ensure property remains affordable.

Recent figures show the average house price in the golden triangle is eight times the typical salary of people living in that area.

Rob Moore, from Savills Planning in Leeds, said: “At this present time, local authorities in the golden triangle appear to have 45,000 new homes due to be built over the next five years.

“However this figure is yet to be tested through independent examination and the key will be to identify enough long term opportunities to ensure that this rolling supply is maintained over the next 18 to 20 years.”

According to mortgage lender Nationwide, property prices in Leeds have risen by five per cent in the last year.

The average cost of a house in Leeds now stands at £186,809 compared to the typical cost across Yorkshire of £139,775.

Leeds saw one of the lowest rises among towns and cities with Manchester experiencing a staggering 18 per cent rise in the last year.

Outside the big cities, West Yorkshire house prices increased by seven per cent over the year to an average of £156,900.

However in many places they still have to recover fully from the slump following the 2007 credit crunch.

The Nationwide figures show that the gap between London house prices and the rest of the country is at its biggest ever level.

London house prices have leapt by 18.2 per cent in the last year compared to a UK average of 9.5 per cent.

 

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