Selling a Home in Leeds? Read our Handy Houses For Sale in Leeds, Property Guide!
Leeds has a diverse economy, which meant it was able to sustain a relatively low rate of unemployment during the recent recession compared to the north of England’s other major conurbations. And although house prices for houses for sale in Leeds have suffered a turbulent time since 2008, they have recovered exceptionally well since then. If you are about to negotiate the property market in the city, you are probably planning to sell your home in the traditional way. However, Flying Homes can help you to bypass the uncertainty of the open market. You can sell your house quickly in Leeds by allowing us to find a property buyer for you, In many cases, it is possible to conclude a sale within weeks. This Property Guide Leeds should help you through the nitty gritty of what you should know.
What constitutes a good price for your property in Leeds?
Assessing the property market in the current economic climate is not easy. In normal circumstances, exceptionally low interest rates would mean booming property sales. However, the reticence of the banks to lend means there has, until very recently, been a dearth of property buyers in Leeds. Prices have been flat-lining, and houses for sale in Leeds in some areas have been falling slightly.
According to a recent report from ITV’s Calendar, house prices in Leeds rose by a modest 1.6 percent in 2013. The same report also suggests the house prices are being pegged back because of fears of interest rate rises in the coming years. And to complicate matters yet further, the outlook differs depending on the specific locality of the city. The only way you can ascertain the current market value of your home in Leeds is to compare it against house sold information. By looking at the prices properties have sold for in your street, you’ll be able to gauge with a reasonable degree of accuracy how much your own home is likely to achieve on the open market. Leeds property transaction data can be accessed on sites such as Rightmove, Zoopla and The Land Registry.
House price rises for houses for sale in Leeds have been among the most modest in the Yorkshire and Lincolnshire region, so it’s important to set your price expectations at a realistic level from the outset. Set your initial asking price at too high a level, and you risk alienating price-conscious property buyers; set it too low, and you could devalue your home in the short term. You can sell your house quick in Leeds, and without the worry of your sale collapsing at the last minute, by utilising our expert house buying service. We will buy your property in Leeds, regardless of its state of repair.
Marketing a property in Leeds
At least during the first half of 2014, the Leeds property market has suddenly started showing signs of strong and sustained growth. As recently as October 2013, the Huddersfield Examiner was reporting that Leeds had the tenth worst annual house price decrease of any county or metropolitan area in the UK. According to the same report, prices fell by 3.7 percent in the 12 months to the end of September 2013. Fortunately, it seems that an important corner has been turned. Incredibly, a recent report in the Yorkshire Evening Post included a quote from a local property expert warning that house prices of houses for sale in Leeds in Leeds are now rising too rapidly, and that a property bubble will be unsustainable in the long term. If you are a Leeds homeowner, this will be welcome news, but you will still need to market your home effectively to secure a quick and competitive offer.
While there is nothing stopping you from dealing with the sale of your property on your own, the process can be highly stressful and time-consuming – making it almost impossible if you have a stressful, full-time job. You will need to deal with everything from property listings to price negotiations on your own. And without an extensive network of contacts and knowledge of the local market, you may have to settle for an inferior final sale price.
There are many estate agents marketing houses for sale in Leeds, but it’s important to research the market and choose the agent or firm that has a proven track record in selling homes like yours – and in your locality. You will need to pay for such a service, of course, but the extra value your can secure will usually more than pay for any fees and commissions you incur.
If you are under pressure to sell your house quickly in Leeds, there are property buyers who can buy it in a fraction of the time a sale will take on the open market. This is because we have access to Leeds property buyers who are ready to place an offer on your property today. All you need to do is call us for a no-obligation quote 0n 0800 68 99 420 – we’ll do the rest.
What time of year is best for selling property in Leeds?
Property prices of houses for sale in Leeds aren’t affected to any significant extent by the time of year. However, there is some data to suggest that late winter and early autumn are popular times of the year to buy houses. This increase in buyers will often speed up the process of selling on the open market, and a slight increase in demand will have a limited effect on house values. However, data released by the Home website points to August as being the month in which most properties were sold in Leeds – closely followed by October and November. The slowest months for house sales in the city were April and September.
Assessing house prices throughout Leeds and the surrounding areas
It is important to remember when selling your home in Leeds that the metropolitan area is vast, and headline figures on property values in the city won’t necessarily reflect prices in your specific locality. For instance, Zoopla recently reported that the average house price in the city centre of Leeds was just over £174,000 in June 2014, yet it was more than £330,000 in nearby Wetherby. Average house prices in certain areas of the city are still languishing around the £100,000 mark, yet The Telegraph reported that a street in the Scarcroft area of Leeds boasted an average property value of more than £900,000!
It is easy to become confused over the headline stories on property values in Leeds, as different reports view the city of Leeds based on different sets of data. Some include all the outlying, rural areas, whereas others concentrate solely on the urban centre. The only way you can be certain of your home’s sale potential is by researching the house sold data for similar homes in your locality. Horsforth and Batley may only be separated by a few miles, but they have wildly different average property values, so it always pays to do your homework before listing your home for sale.
What factors influence Leeds Property Values?
Leeds is home to a thriving services sector, and with exceptional transport links to London and all the major conurbations of the UK, it is an incredibly popular place in which to do business in the 21st century. Like all of England’s northern regions, there is a disparity when compared to the south east of the county, which manifests itself in the form of lower wages, higher unemployment and lower house prices. However, the economy is more diverse in Leeds than it is in other northern cities, so the city has managed to weather the economic storm somewhat in recent years. The city as a whole is showing modest house price growth, which is expected to continue for several years.
One factor unique to house prices in Leeds is the opening of a new trolleybus network throughout the metropolitan area. Several districts have been identified as having the potential for significant increases in average property values as a result of the £250 million scheme, and they include Holt Park, Bodington, Stourton and Quarry Hill. Some estimates suggest that house prices in these areas could rise by as much as five percent by early 2015.
Wages in Leeds are relatively static, which is one of the reasons why mortgage approvals in the city are still low compared with pre-2008 levels. However, if building projects such as the housing scheme planned for Scholes are a sign of things to come, the city could get the affordable homes it needs to keep house price rises in the city modest and sustainable.
Whether it’s school league tables, local transport links or falling crime rates, the factors that can affect property prices of houses for sale in Leeds are numerous, which is why regular research into local house values is essential.
Leeds is England’s third largest city in terms of metropolitan population, and just like many cities in the north, it has been rejuvenated in recent years. This modern, culturally diverse city rose to prominence during the Industrial Revolution, and its wool, iron and engineering industries transformed what was once a modest town into one of Europe’s largest cities. The local economy is now dominated by the retail, legal and financial sectors, which account for the lion’s share of the city’s jobs.
Things to do and see in Leeds
Leeds may have its roots in heavy industry and the dawn of large-scale manufacturing, but it is now a modern, cosmopolitan city that has a great deal to offer visitors from all over the world. The city has the most successful retail area in the UK outside of London, and it is a well-respected centre for the arts. The city centre is sufficiently compact for walking between major shops and attractions, which makes visiting the likes of Leeds Town Hall and the Victoria Quarter on the same day exceptionally easy.
If museums and galleries interest you, Leeds is a fantastic place to visit and live. You will find the world-renowned Royal Armouries in the heart of the city, as well as the acclaimed Leeds Art Gallery. The Leeds City Museum houses a range of exciting displays from the natural world, and it represents a great day out for people with young children.
Leeds has world-class entertainment and nightlife to sample at every turn. From the bars and clubs of the city centre to Leeds’ exceptional performance venues, fun and excitement await you at every turn. If you like festivals, this fantastic city has more than its fair share, which includes the International Concert Season, the International Film Festival, the Leeds West Indian Carnival and the hugely popular Leeds Music Festival.
Property values in Leeds are rising, and demand for homes of all shapes, sizes and conditions is gradually recovering after the shock of the 2008 banking crisis.