News & insight

Leeds housing market – a year in review

Marketing / 16 Feb, 18

Are you already starting to think about making a home move in 2018? Throughout the country there are lots of people trying to decide whether this year will be the right one for them to make a move. With the new year ahead of us, Diana Warr, sales and letting expert in our Leeds office has collected her thoughts on where the Leeds housing market is going in 2018 and what to look out for.

“In the Autumn budget there were a number of key changes for housing, with the headline announcement undoubtedly the fact that first-time buyers would no longer need to pay stamp duty on purchases up to £300,000. During 2017 there was an increase in the number of first-time buyers across the region and so we are hopeful that with the government’s announcement this growth will continue.

“It was also announced that local authorities would be able to charge a 100% council tax premium on empty properties in an attempt to dissuade landlords from leaving vacant flats and houses while others struggle to find somewhere to live. As with all the changes announced in the budget we eagerly await their outcome and the impact it may have on the Leeds market.

“During 2017 we experienced first-hand a real resurgence in the demand for urban living. As many city dwellers will know, Leeds is an incredibly exciting city to live and work in, with, one of the most diverse workforces in the UK, an unrivalled nightlife, restaurant and social scene it is no wonder that more and more people want to move to the city every day.

“Towards the end of 2017 it was a relatively flat few months for the housing market across the country but as always it is important to look at regional differences. In particular, the outlook for London and the South East is much flatter than other parts of the country, with Yorkshire, the North West and Wales experiencing a strong final quarter.

“We enter 2018 with a strong demand for both sales and lettings and so it is an exciting time for landlords and anyone looking to sell. There is an underlying confidence in the market, due largely to the number of active buyers. The relative lack of both sales and rental properties on the market will mean that the early part of the year will be a great time to get your property on the market.”

Get in touch with us on 0113 221 6017 and we’ll be more than to discuss your next steps.

Topics: News

Share this article