As a landlord, whenever you are looking at houses for sale in West Yorkshire, you could find varying prices throughout an area like Leeds. In this article, this data will be simplified so you can find all of the data on one, convenient page.
So, from the rental yield of Leeds to the success you may expect to get when submitting planning permission. Everything you need to know about house for sale in the UK and in Leeds will be revealed. Keep reading.
In general, for the city of Leeds, what are the final purchase prices for the houses for sale?
For the city of Leeds, the average price a house sells for is £188,240. This value usually depends on the exact location of the house within Leeds as well as other factors like the population growth in Leeds which is 7% over a ten-year period.
| Housing category | Total final sale price |
|---|---|
| Aerage sold price (detached) | £320,629 |
| Aerage sold price (semi-detached) | £209,679 |
| Aerage sold price (terraced) | £174,342 |
| Aerage sold price (flat) | £138,133 |
The above table puts this figure into perspective as you can see the various average sale prices of a house for the specific type of house you’re most interested in. This comparison is important because the type of house you’re considering to buy may be more or less in demand based on variations in supply and demand in the city of Leeds.
| Housing category | Sale price per square foot |
|---|---|
| Aerage sold price/sqft | £2,403 |
| Aerage sold price/sqft (new build) | £2,361 |
| Aerage sold price/sqft (old stock) | £2,293 |
Generalising the bottom table, the average value per square foot of a house for sale is £2,430. This value averages all of the types of houses for sale in Leeds. So, if you’re not sure what type of house you want specifically, you can still get an idea of the real estate market of Leeds.
In Leeds, what are the demographics like?
How much are those living in Leeds earning?
You may be wondering what the amount people earn has to do with house price. Well, house prices generally go up as people earn more not just because they can afford more valuable properties but also because good areas generally attract more desirable infrastructure. For reference, the average household income is £38,414.
This may be better schools, doctors and areas with lower crime rates. This results in a snowball effect which polarises different areas further, increasing the demand for housing in richer areas by a greater amount. And increasing the proportion of people with high social grade scores. For Leeds this figure is 24%.
In Leeds, what is the crime rate?
The crime rate of Leeds must be looked at sceptically. The reason for this is that the crime rate can vary within a city greatly and the type of crime committed can also vary too.
For example, the area has a crime rate of 383, but another city may have a higher crime rate but not be deemed as dangerous due to lower level crime or minor offences being committed.
Either way, high crime rates are never a good sign so consider the rate against the UK average of 79.52 for every 1000 people as a benchmark.
Lower rates could mean things like home insurance is cheaper and you have to install fewer security measures throughout your house. Saving you money in the long run. So the statistic of crime rate (383) is both useful and is recommended to be compared to the average.
For the city of Leeds, what is the education level?
Interestingly, the percentage of people who have a degree in the city of Leeds is 36%. Most of the time, the more people that have a degree, the higher the average household income and the more likely someone is to be able to afford to purchase a house. For example, the average income of the citizens in the area of Leeds is £38,414.
Generally, areas with high numbers of people with a degree are also areas with more people likely to be home owners and therefore the value of houses and relative prices of the houses for sale are more likely to go up too.
Nonetheless, making predictions about the appreciation of a house also has to be considered alongside other factors like population growth and the rental yields of the area.
However, most of the time, being educated is a good indication of affluence with 82% of people graded a first in tertiary education going on to eventually own a house.
What is a social grade score and how does this relate to Leeds?
The social grade score is a good indicator of what type of jobs people generally work in the area. Whether that be working in the primary sector, secondary sector, tertiary sector or maybe the quaternary sector of jobs.
The scale is slightly different to this though on a scale of A to E. A refers to people who are in the most skilled, managerial roles whereas E include people such as casual workers.
In Leeds, the percentage of people in the two highest categories, A and B is 24%. This figure includes people who are therefore most likely to be more skilled and have higher paid jobs.
When contrasting these figures, the average household income for the area is £38,414. This income will generally get bigger as the percentage of people in the A and B categories go up too (24%).
Located in West Yorkshire is the city of Leeds, in a large part of the UK; North East. Before you look for houses for sale in this area, it is a reasonable question to ask what the people who live there are like.
Below, the population of Leeds has been dissected in terms of if the population is educated, what the crime rates are like and much more. All important factors to consider before making a house purchase among the offer of the houses for sale.
The knowledge below is based on a lot of different variables relevant to the city of Leeds which impacts the profitability of making an investment here or how desirable buying a house to live in is if you want to live on a permanent basis.
Do the people of Leeds get to enjoy green space?
In the city of Leeds, there are 6.8 acres of green space per 1000 residents.
The charity, ‘Fields in Trusts’ recommends a minimum of 6 acres of green space per 1000 people so it is easy to see where Leeds is when seeing if green space availability is sufficient. This green space could be parks, nature reserves, public gardens or playing fields.
Is the city of Leeds deprived?
The number of people who are deprived can have an impact on the perception of your house in the general marketplace. Additionally, if you are looking for a house to live in for the long term, you can start to picture what your neighbours and the people in your area live like financially.
If the proportion of deprivation of Leeds is 22% and in general for the UK this figure is somewhere around 33%, you can see if this figure is something you are happy with as you search for a house to buy.
In Leeds, how has the population changed?
Whenever there is a population change this can impact the demand for housing and hence the appreciation of properties too. The total population of Leeds if 129,288 and in the below heading how this population has changed will be broken down.
Like most data to do with houses, all data has to be considered holistically with multiple variables to determine if the population growth actually impacts the statistics that matter to you as a landlord in Leeds such as rental yield or house appreciation.
How has the population size of Leeds adjusted in the last 5 years?
In the previous five years there has been a change in the number of people of Leeds by 3%. Analysing this figure is a great way to tell if there is new demand for housing or not as a decreasing figure reduces the number of people who want to buy houses. Read more here
To compare this figure over a greater period of time, you could look at the figure for the 1 year population too and compare them. This way you can see if the population has changed recently or if this 3% change has historically occurred before. Click here to know more on the UK population trends.
Over the last 10 years, how has the population size adjusted in Leeds?
In the last decade, the population of Leeds has been adjusted by 7%. This growth may be as a result of factors like new industries employing people or emigration and immigration balancing out to create this population change.
A precedent that shows population change in this way over decades is the region of Greater London. The capital city has grown by 27% in the past 20 years. Population growth has caused house prices to go up to price523,666 on average.
On average, what is the figure for the asking price of a house for sale in Leeds?
As you go ahead and make offers on a house for sale, it is sometimes best to know what other people are offering for the same type of house for sale so you know what to offer yourself to get a good deal. So you should know, the average asking price of Leeds is £212,800.
Even though the asking price is not what the eventual price the house is sold at, making a note of the averages for the city of Leeds is useful when negotiating and knowing what to expect for every type of house for sale.
Table showing the asking prices for houses for sale in Leeds
| Average asking price (1 bed) | £135,975 |
| Average asking price (2 bed) | £199,578 |
| Average asking price (3 bed) | £246,554 |
| Average asking price (4 bed) | £370,452 |
| Average asking price (5 bed) | no relevant data for this city |
Based on this table, hopefully, you will be able to tell what type of house for sale is the most suitable for your budget. You can also consider the average asking price per square foot (£420) for houses for sale with this table to get a good idea as to whether Leeds is the right area to buy a house in for you.
How are rental yields of the houses for sale different to the rest of the UK in Leeds?
In Leeds, how has the number of houses changed?
Growth in the area can be a good signal of a booming house market. However, too much growth could also have negative consequences on the capital appreciation of a house as time goes on.
Take a look at the table below for Leeds that shows the growth in recent years.
| 1 year | 3 years | 5 years | |
|---|---|---|---|
| Leeds growth rate | 2% | 13% | 24% |
High growth rates can signal an appreciating housing market, nonetheless, if there are too many houses being built, this could reduce demand for housing as the supply of houses for sale starts to catch up with the demand. Leading to stagnation or a decline in house pricing so understanding the growth in Leeds is important.
You may have heard of rental yield as being important for investors who wish to make a sizable profit on their rental properties. If this sounds like you and you’re looking to invest in a house currently for sale and collect rental income in Leeds this statistic is what you were looking for.
Data should also be compared to the broader region of the UK (North East) alongside West Yorkshire then looked at with other statistics like the area’s rent and the turnover of sale of the houses in question. It could be that an investor prefers to make a profit on the sale of a house rather than the rental income and optimal properties for this investment varies throughout Leeds.
This decision is made differently depending on the investor’s tolerance for risk, investing strategy, the location they’re investing in and their overall goal for buying a house currently listed for sale.
| Average Yield | Average Asking rent | Turnover (rental) | Turnover (sale) | |
|---|---|---|---|---|
| Leeds | 6.1% | £1,076 | 120% | 17.2% |
| West Yorkshire | 4.55% | £778 | 125.25% | 21.88% |
| North East | 4.67% | £757 | 123.96% | 19.25% |
As you observe table above, it could be valuable to contrast these figures with other pieces of data relevant to the process of buying like the crime rate or the appreciation of houses for sale in Leeds.
As you can tell, the best conclusions are drawn when the buyer of a house for sale looks at all the data involved holistically and doesn’t make quick decisions based on one or two pieces of data. As an example, comparing the data with the number of property sold per month (70) will be useful.
Professional advice for houses for sale in Leeds
Nowadays, there are so many properties on the real estate market that it can be difficult to decide which one is the best house for sale for you.
So, who can help you navigate the process of choosing a house for sale?
The number of professionals that offer real estate investors advice and assistance is broad and when it comes to dealing with houses for sale, the process can be complex.
Find here a list of those that can help when buying a house for sale:
- Moneylender – lends you the sum of money you need to buy the house for sale you are looking for
- Insurance agent – A firm that provides several insurances and protections for the house for sale that might become your future house
- Solicitor – A person or company that will sort out the legal work needed before buying a house for sale
- Civil engineer – Also called surveyor, he or she will provide you with an independent valuation of the house for sale you are willing to buy
- Mortgage advisor – Realistically, you will need a mortgage in order to afford to buy a house for sale. Mortgage advisors will guide you and propose the best mortgage deals based on your financial records
- EPC specialist – Especially nowadays, getting professional advice on the Energy Performance Certificate (EPC) of the house for sale you are considering buying is crucial
Invest in a house for sale that meets your demands
When browsing houses for sale in Leeds you should think about lots of different criteria:
- House for sale affordability – visit the dedicated page of the UK government to understand (see what you can afford)
- Location of the house for sale – the region and town you are considering to live in are crucial factors to consider before looking for houses for sale. In this article, we define lots of demographic factors that should help you make a decision.
- House for sale transport links – even if working from home is becoming more and more predominant, we suggest you check the transport links the house for sale has.
- Number of bedrooms in the house for sale – are you looking for houses for sale for the whole family or are you single? Always think about how many bedrooms you need and if that number might change in the future
- energy performance of the house for sale – What is the EPC of the house for sale? Today more than ever, is important that you check the EPC rating of the real estate assets available for sale on the market.
- Internet speed in the area of the house for sale – is important to remember that internet speed is a consequence of two factors: your plan and the infrastructure available in the area. Always check these parameters before looking for houses for sale
- Does the house for sale have parking – if yes, is it on-street or is the house for sale equipped with a garage?
- Houses for sale in conservation areas – always check the National Heritage list. If a house for sale is part of this list it means that it might be impossible for you to make changes to the property’s internal and external structure.
- Houses for sale Conditions – some properties, like new builds, need no repairs or works; other houses listed for sale may need some investment to restore them and some others may need a complete renovation. Someone looking for houses for sale should always think about how much time and money they are willing to invest to complete the needed repairs.
House for sale in the same UK region
You can assess the various houses for sale offered in the area by consulting this list of cities in North East, the same UK region as Leeds:
- Helmsley in North East
- Brompton in North East
- Crathorne in North East
- Fellgate in North East
- Haltwhistle in North East
You may also refer to our landing page specific to UK houses for sale, houses for sale in the UK
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