There are mixed fortunes for North Leeds in the property market according to a recent survey of figures from property website Zoopla.
Local estate agents report that some parts of the north Leeds region are flourishing despite the general fall in property prices and a slump in the market, with Headingley, Meanwood and Horsforth all seeing an increase in popularity. The Zoopla figures show that Horsforth has only seen an 8.11% decrease in property values over the last four years compared to a 12% drop in other areas and the area has actually seen a small increase in the percentage change in average value over a year.
Estate agents see Headingley becoming a more attractive proposition for families buying a house as students increasingly head more towards Hyde Park and the city centre while Meanwood is experiencing an increased demand, due in part to what agents are calling the “Waitrose effect”. Michael Moore, from estate agents David Moore says that Waitrose opening a store in the area, along with other generation work has helped make Meanwood a more attractive prospect for those looking to move to a property in north Leeds.
Despite the relative success of some parts of the region, overall the picture is not quite as rosy with the average property in the north Leeds area losing between eight and 12% of its value over the past four years with sellers waiting for the market to improve and more people renting as a result. The LS17 postcode is still home to some of the most desirable homes in the region although it also hasn’t been immune to the drop in property prices with an 11.61% fall in average values over the last four years.
Despite the variations, local estate agents all agree that north Leeds continues to be an attractive location for prospective buyers with its easy access, both to the city centre and the nearby countryside. They insist that properties will sell, but the current state of the market makes it more important that sellers put properties on the market at a more realistic price. If they do that and both buyers and sellers do their homework, the property market in north Leeds will be well placed to recover.
