Leeds house prices: property market saw a bump in September, new figures show

The boost contributes to the longer-term trend, which has seen property prices in the area achieve 5% annual growth.

The average Leeds house price in September was £198,697, Land Registry figures show – a 1.1% increase on August.

Over the month, the picture was similar to that across Yorkshire and The Humber, where prices increased 1.2%, and Leeds underperformed compared to the 1.7% rise for the UK as a whole.

Over the last year, the average sale price of property in Leeds rose by £9,500 – putting the area ninth among Yorkshire and The Humber’s 21 local authorities for annual growth.

The best annual growth in the region was in Craven, where properties increased on average by 7.8%, to £229,000. At the other end of the scale, properties in Harrogate dropped 1.8% in value, giving an average price of £284,000.

Winners and Losers

Owners of detached houses saw the biggest improvement in property prices in Leeds in September – they increased 1.8%, to £362,732 on average. Over the last year, prices rose by 6.2%.

Among other types of property:

Semi-detached: up 0.9% monthly; up 6% annually; £212,476 average

Terraced: up 1% monthly; up 4.8% annually; £162,407 average

Flats: up 1.3% monthly; up 2.2% annually; £136,554 average

First steps on the property ladder

First-time buyers in Leeds spent an average of £​169,700 on their property – ​£7,400 more than a year ago, ​and ​£33,500 more than in Sep-15.

By comparison, former owner-occupiers paid £​235,800 on average in September​ – 39.0% more than first-time buyers.

How do property prices in Leeds compare?​

Buyers paid 13.9% more than the average price in Yorkshire and The Humber (£174,000) in September for a property in Leeds. Across Yorkshire and The Humber, property prices are lower than those across the UK, where the average cost £245,000.

The most expensive properties in Yorkshire and The Humber were in Harrogate – £284,000 on average, and 1.4 times as much as in Leeds. Harrogate properties cost 2.5 times as much as homes in Hull (£114,000 average), at the other end of the scale.

The highest property prices across the UK were in Kensington and Chelsea, where the average September sale price of £1.3 million could buy 15 properties in Burnley (average £88,000).

Factfile

Average property price in September

Leeds: £198,697

Yorkshire and The Humber: £174,450

UK: £244,513

Annual growth to September

Leeds: +5.0%

Yorkshire and The Humber: +5.4%

UK: +4.7%

Best and worst annual growth in Yorkshire and The Humber

Craven: +7.8%

Harrogate: -1.8%