The up-and-coming hotspots in Leeds as property experts give their predictions for 2022
Last year the property market in Leeds boomed - but what can we expect from the coming year and where are the up-and-coming areas to watch?
Managing director of Manning Stainton, Mark Manning, said he has an eye on neighbours in the city centre and east Leeds, due to the completition of the new orbital route.
However, he also believes many people will look slightly out of Leeds to the border of Wakefield to get more for their money.
Mr Manning 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.
“Works will be completed on the new East Leeds Orbital route in Autumn 2022, and this much anticipated upgrade to the infrastructure around the area is going to open up a significant number of new housing developments, making it one of the top places to watch in the city in 2022.
“In 2022 we will also see a resurgence in Leeds City Centre prices, which for many years has been held back, in part due to the issues relating to cladding.
The city centre continues to attract a significant number of new businesses and is reaffirming itself as a powerhouse of the North, so prices will rise.
"On the back of this, we’ll also see neighbouring suburbs like Holbeck benefitting from new investment and subsequent rises in property prices."
He added: “Further afield, we’ll also see prices across the north side of Wakefield increase, including Outwood and Stanley.
"Just a stone’s throw from the commercial centre of Leeds, and just 12 minutes away by train, these areas offer properties at more competitive prices than in some Leeds postcodes, but still with the convenience and great local amenities to match.
“In summary, 2022 looks set to be another good year for the property market, and even predicted interest rate rises won’t impact on the market too much, as rates will still remain historically low, and lenders will continue to offer competitive mortgage deals.”
Local property experts from Purplebricks in Leeds also believe the property market will remain incredibly high, and predict that more indoor and outdoor space will continue to drive demand.
They are also hoping to see more properties come to market to counter the high demand for homes.
Leeds Area Director, Mark Whincup, said: "I think prices will start to stabilise but demand will still remain incredibly high.
"The market will react to interest rate changes but as I think these will only be gradual, they shouldn’t impact the market too much.
"More people will move out of city centres to more rural areas as home working continues and becomes the norm, which in turn will mean home offices or space to convert will become even more important when buying a property."
Local Property Expert, Janet Francis, said: “To echo what Mark has predicted for next year, I think home offices will continue to be a priority for buyers, with more people converting garages and being creative with garden offices.
"Hopefully we’ll see more properties come to market next year to counter the high demand for properties, which has pushed up prices.”
Local Property Partner, Julie Wilson, added: "I think outdoor space is important to many, as is the requirement to be in a local community with outdoor spaces and places for socialising; areas with community spirit and events for families.
“These types of hotspots are likely to continue thriving next year, such as Kirkstall and Burley with Kirkstall Abbey, many events, markets and concerts, as well as plenty of local amenities.
"Roundhay and Oakwood, which have Roundhay Park, a lovely green space, Oakwood farmers market for local produce, and Street Lane with many bars and restaurants.
"Chapel Allerton and Meanwood, with Meanwood Valley Trail and again many local amenities.
"Pudsey and Farsley which have Farsley town street has a great community feel with many amenities. Pudsey with its parks, shops, train station and bus station is ever increasing in popularity.
“All these places are prime for young professionals settling in Leeds with plans for future family life.”
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