02 Oct Leeds Housing Market Autumn 2018
Leeds Housing Market autumn 2018
As we move in autumn, we break down the sell house fast market in Leeds so far and take a look at our predictions for the autumn/winter months.
As the full country sits with bated breath to see what happens with Brexit, we hear many ask ‘how is the market in Leeds’? The answer, in short, is that the sell house fast market in Leeds seems to be still performing. So from the outside, it does look we aren’t in any trouble however, that may not be the case. London normally sets the trend and then the rest of the country follows. This we call this the ripple effect and history tells us that this is normally the case. With house sales grinding to a halt in London are we going to see a cold slow winter for the quick house sale Leeds market? Time will tell.
Staying on the positive side we are seeing the city centre going from strength to strength. At the back end of 2006/7 we a saw a plethora of new build flat projects in Leeds get mothballed due to the growing concern that there was a recession looming. The rumours were true and we were left with many large voids across the city centre where developments such as Lumiere and Greeb Bank were mothballed. However, in today’s market, it seems we the market in the city centre is back to its former glory. According to an article from the Yorkshire Post The Leeds city centre market is looking healthy and its due to prosper over the next five years. Their research came from a report by JLL in which they predict the housing market in the city centre will see moderate growth over the next five to ten years. They say “It is good for government, the economy, buyers, sellers and industry participants. But it will take some getting used to” They are predicting the level of growth to be at 2.5% over the five years. Now, these kind of rising (albeit are in the right direction) are not likely to overly excite possible investors. They are advising that they feel regional city centres are likely to outperform the rest of the property markets. Their report chose Leeds as one of the top cities to look out for City living has gained strong momentum in Manchester, Liverpool and Leeds over the past three years and, together with an active student market, has pushed demand in both the sales and lettings markets notably higher.” This could be great news for those looking for a sell house fast Leeds investment.
It seems that it is not just the city centre that is also booming in the heart of the West Yorkshire. As works have started on the development for the 300+ news houses being built in the Scholes area of North East Leeds. These are going to be new family homes and there will be a massive 35% of them reserved as affordable housing. The site by David Wilson Homes has also seen them gift some of the land to a local adjoining school so the school can extend. The director of the Barratt Homes (DWH) David Coe, said: “We are confident that the proposed development would enhance the Scholes area. The scheme would attract a CIL payment in excess of £1.5 million, 25 per cent of which would go directly to the parish council to be spent locally, and would have huge benefits for the local school and surrounding community.” Now, this is all well and good for the developers but for those looking to sell house fast Leeds in the Scholes area, they may come across some problems. The HTB scheme allows buyers to put a 5% deposit in when purchasing a house that is part of the scheme. So if you are trying to sell house fast Leeds in an area with a new build development then you may be in for some stiff competition. If your house is for sale for £200,000 then your average first-time buyer would need to put in £60,000 as a deposit. This compared with the £10000 at 5% that the new builds will require seems a lot more palatable. With this said the number of first-time buyers went up another 6% in 2017 so hopefully there will still be enough buyers out there to meet demand.
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