A trendy Leeds suburb has been named as one of the UK’s ‘hipster hotspots’ after seeing a staggering growth in property values.
Headingley and neighbouring Hyde Park - both traditionally popular with students - came out top in Leeds after property website Zoopla researched areas of British cities that have been gentrified by young, creative residents.
The average house price in the once-prestigious Victorian suburb has risen by 27.81 per cent since 2011, with a home now likely to cost in the region of £196,608; compared to £153,826 five years ago.
In recent years, Headingley’s popularity with transient student tenants has declined as they have moved closer to the city centre, leading to many period properties returning to the owner-occupied or young professional lettings markets.
Estate agents in the area have commented on a noticeable trend in former student landlords selling or upgrading multi-occupancy homes, with young families and professionals now making up the majority of Headingley’s house-hunters.
However, Headingley’s growth is far outstripped by the national chart-topper - hipster heartland Dalston, in east London, saw property prices rise over 60 per cent in five years.
Bristol is the second most gentrified city outside of the capital, with its Montpelier, St Pauls and Stokes Croft neighbourhoods all booming. Birmingham’s Jewellery Quarter is also in the national top 10.
The most trendy areas in other cities were Chorlton in Manchester, Ecclesall Road in Sheffield, Finnieston in Glasgow, Leith in Edinburgh, Penarth in Cardiff and the Baltic Triangle in Liverpool.
Lawrence Hall from Zoopla said:
“As cities change shape and property prices continue to climb, it is inevitable that rundown areas are revived to accommodate growing resident numbers, resulting in new trendy hotspots starting to appear. Given London’s population and size, and the city’s ongoing gentrification process, it’s not surprising to see the capital’s edgy enclaves dominating the ‘hipster hotspot’ rankings. With gentrification happening across UK cities, we have seen a shift in price for these areas over the past five years as well as a new set of residents for these hotpots in these ever-growing cities.”