Tenancy deposits averaged £653.67 for Leeds's '˜LS' postcode

Tuesday, 30th May 2017, 1:23 pm
Updated Tuesday, 30th May 2017, 2:40 pm

Tenancy deposits for properties with Leeds’s ‘LS’ postcode averaged £653.67 during the first quarter of 2017, according to The Deposit Protection Service’s (The DPS) quarterly Tenancy Deposit Ratings.

Tenancy deposits are usually amongst the most expensive costs when renters move into a new property, and The DPS’ figures show that those renting a home in the district between January and March this year had to pay on average £314.17 (32.46%) less than the national average during the same period (£967.84).

Julian Foster, Managing Director at The DPS, said: “Over the last ten years The DPS has protected almost 5 million deposits across England and Wales, and we’ve generally seen deposit sizes increasing during this time.

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“Tenants need to consider that the deposit for their next property may be greater than the sum protected for their current residence and plan ahead so that they can make the house move they want to make without any financial barriers.

“Whatever the cost, however, both landlords and tenants are assured peace-of-mind during their tenancy and fairness when it ends when using The DPS popular, easy-to-use and secure systems.”

The DPS’ figures also revealed the relative cost of renting locally compared to London, with ‘LS’ postcode properties averaging £1,177.46 (64.30%) less than those in the capital (£1,831.14).

The Tenancy Deposit Ratings also showed that the average deposit for properties in Leeds were £88.02 (15.56%) more expensive than those in the nearby Wakefield postcode (WF).

Leeds’s figure was just £12.35 (1.28%) more expensive than during the preceding quarter (£641.32) and just £32.41 (3.35%) more expensive than during the same period (January and March) in 2016 (£621.26).