Surge in Property Sales in Leeds

Recently released data from Zoopla shows that Leeds had the second biggest jump in buyers' interest in the country in the first weeks on January 2020. Although buyer interest was up by an average of 26% in the UK, the demand for homes was up nearly 20% above this in Leeds.

According to the same source, Leeds also experienced the 8th highest year-on-year growth in the country with 3.6%, putting the average home price at £169,100. Edinburgh claimed the top spot with a %yoy growth of 6.1%. Leeds is also pegged as 7th in the Zoopla 2020 growth rankings. Leeds has seen considerable relative economic growth in recent years, represented by the significant inward flow of large companies and their employees. With massive infrastructural investments, a thriving City Centre, multiple world-renowned Universities and newly-upgraded transport links, Leeds has positioned itself as a world class economy in the Northern Powerhouse. Given this backdrop, it is no surprise that the property market in Leeds has attracted the attention of property investors.

Eamon Fox, partner at Knight Knox had this to say to the Yorkshire Post last month: "Despite the ongoing Brexit talks, we are still seeing many businesses pressing ahead with expansion or relocation plans... It is also relevant to note that Prime Minister Boris Johnson is planning a big shift of civil servants out of London this year as part of his aim of "levelling up" opportunity and spreading wealth across the country. This could have major consequences for Leeds." It's all looking good for Leeds