House prices in Leeds rise again as city sees average sales increase by £25,000 in one year
House prices increased by 1.9 per cent in Leeds in June, new figures show.
The boost contributes to the longer-term trend, which has seen property prices in the area achieve 13.4 per cent annual growth.
The average Leeds house price in June was £212,942.6874, Land Registry figures show – a 1.9 per cent increase on May.
Over the month, the picture was less good than that across Yorkshire and The Humber, where prices increased 7.1349786 per cent , and Leeds underperformed compared to the 4.4989563 per cent rise for the UK as a whole.
Over the last year, the average sale price of property in Leeds rose by £25,000 – putting the area 14th among Yorkshire and The Humber’s 24 local authorities for annual growth.
The best annual growth in the region was in Richmondshire, where property prices increased on average by 29.4 per cent , to £276,000. At the other end of the scale, properties in Hull gained 4.2 per cent in value, giving an average price of £121,000.
Winners and Losers
Owners of terraced houses saw the biggest improvement in property prices in Leeds in June – they increased 2.1 per cent , to £175,172.3223 on average.
Over the last year, prices rose by 14 per cent
Among other types of property:
Detached: up 1.9 per cent monthly; up 14.5 per cent annually; £391,364.062 average
Semi-detached: up 1.8 per cent monthly; up 13.2 per cent annually; £227,210.3688 average
Flats: up 1.8 per cent monthly; up 11.1 per cent annually; £144,046.2794 average
First steps on the property ladder
First-time buyers in Leeds spent an average of £182,000 on their property – £21,000 more than a year ago, and £39,000 more than in June 2016.
By comparison, former owner-occupiers paid £253,000 on average in June – 39.0 per cent more than first-time buyers.
How do property prices in Leeds compare?
Buyers paid 9.5 per cent more than the average price in Yorkshire and The Humber (£195,000) in June for a property in Leeds.
Across Yorkshire and The Humber, property prices are lower than those across the UK, where the average cost £266,000.
The most expensive properties in Yorkshire and The Humber were in Harrogate – £312,000 on average, and 1.5 times as much as in Leeds.
Harrogate properties cost 2.6 times as much as homes in Hull (£121,000 average), at the other end of the scale.
The highest property prices across the UK were in Kensington and Chelsea, where the average June sale price of £1.2 million could buy 13 properties in Burnley (average £99,000).
Average property price in June
Yorkshire and The Humber: £194,518.0643
Annual growth to June
Leeds: +13.4 per cent
Yorkshire and The Humber: +15.8 per cent
UK: +13.2 per cent
Best and worst annual growth in Yorkshire and The Humber
Richmondshire: +29.4 per cent
Hull: +4.2 per cent