Why Leeds house hunters are looking towards Wakefield to get the most for their money

Properties in Leeds had an overall average price of £230,876 over the last year, according to the latest data from the HM Land Registry.

Competition for homes has also been fierce as demand for homes continued to outstrip supply, with many homes selling within weeks of going on the market.

In his 2022 market predictions, Mark Manning, the managing director of estate agents Manning Station, suggested many people will look slightly out of the city to the border of Wakefield in order to secure a home.

In particular, he said it could be a good move for those taking that first step on the property market.

Mark said: "In 2021, we have seen exponential house price growth across Leeds, with the average price of homes we’ve sold up almost 15 per cent on the previous year.

"That means the value of the average home across our region has increased by around £30,000 in just over a year – a growth the likes of which we haven’t seen for over a decade.

“In 2022, my areas to watch are East Leeds, Leeds City Centre and the areas around North Wakefield. We’ll also see prices across the north side of Wakefield increase, including Outwood and Stanley."

A driving factor in expanding the house hunting search to Wakefield is the lower cost.

House prices with a WF postcode have followed the Yorkshire-wide trajectory upwards over the past year and have seen a 12 per cent increase, however, prices still remain lower than in Leeds.

The average house price in the area is now £252,621, data shows, with detached houses selling for an average £347,385, semi-detached homes selling for an average of £226,038 and terraced homes for £146,266.

Areas such as Tingley or East Ardsley are cheaper than other Leeds suburbs due to having a WF3 postcode, with villages which straddle both LS and WF postcodes like Robin Hood and Lofthouse are also popular with house hunters.

“Wakefield offers home buyers great value for money," says Mark.

"Property in the city is more affordable than it is in Leeds, and the north side of the Wakefield is becoming really popular with buyers from Leeds because of this, particularly first timers looking to take their first step onto the property ladder.

“The northern areas of the city, like Stanley and Outwood, are proving particularly popular, and there are several reasons why.

"Firstly, the suburbs offer a good range of housing stock to choose from, they’re only 12 minutes to Leeds by train and close to the motorway network.

"They are also a short distance to Wakefield’s town centre, which is another key reason for their popularity.

“As well as high street shops and eateries, Wakefield is currently experiencing an insurgence of independents, creating a real feeling of optimism and transformation. There’s also the award-winning gallery, The Hepworth, and nearby Yorkshire Sculpture Park, which are both helping to cultivate a cultural scene that’s really attractive to buyers.

“Wakefield is a great city to buy in if you want value for money, and it’s still close enough to Leeds to be able to easily commute.”

However, its not just the price and the connectivity, but the people that make WF postcodes areas a good choice for house hunters, said Claire Kendall, partner at Richard Kendall estate agents.

Some places engender great loyalty and pride and those in the WF postcode area are a perfect example of this phenomenon.

People from Wakefield, Pontefract, Castleford, Ossett, Normanton, Horbury, Featherstone and Crofton to name a few of the 18 WF districts often stay local, career permitting.

The recent work from home revolution sparked by the pandemic has brought more of those born and bred there back to an area regarded as “Proper Yorkshire”, as opposed to places like chi chi Harrogate, where “off cummed ‘uns” and non-Yorkshire accents proliferate.

Claire said: "It is a great place to live. “People are really friendly here and that’s a wonderful thing.

"There is a lot of loyalty in that people who were born here want to stay here and while each area has its own character, they all have a great sense of community.”

She added: "We are certainly seeing more people move to Wakefield and the surrounding areas from South Leeds because house prices are lower here, schools are very good and commuting back into Leeds for work is not an issue."

Wakefield offers good rail links to Leeds with journey times of between 14 and 20 minutes and the M62, M1 and A1 are all easily accessible from WF postcodes.

Culture too is catered for. The Hepworth Wakefield attracts thousands of visitors each year and is named after the city’s famous daughter Barbara Hepworth.

The architecturally bold building features her sculptures, along with other world class exhibitions and events that attract thousands of visitors each year.

The renowned Yorkshire Sculpture Park is also in the WF area as is the National Coal Mining Museum and the National Trust’s 300 acre site at Nostell.

While retail is struggling, as it is everywhere, the Wakefield BID, which has a £1.5m budget, has big plans to revive the city centre.

The only issue for those who want to make the move is the nationwide issue of a lack of homes for sale, which means choice is more limited making it a sellers market.

The good news is that more properties look set to sport a For Sale sign by Spring Richard Kendall offices are “valuing property left, right and centre” at the moment, which should lead to more For Sale signs going up.

Developers have already spotted the potential and continue to target the area, though Claire Kendall has some advice for them given the number of high net worth individuals in the area and wealthier buyers keen to move in.

She says: “We need more high end new-build homes in the area and Wakefield city centre also holds a lot of untapped potential for high quality apartments aimed at downsizers.”

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