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The total value of homes owned by Baby Boomers in Leeds alone is £12,141,766,171 – and two-thirds of the Leeds Millennials are set to inherit all that in the next few decades! Could this be the answer to the housing crisis?
Is it a seller’s or buyer’s Leeds property market? In this article, I discuss this and how things are beginning to change in Leeds. Also, that there are in fact many Leeds property markets and how savvy home buyers can spot bargains by following certain trends.
Even though house prices have more than tripled in the Country (quadrupled in London), it is still cheaper today to buy a house as a first-time buyer than in 1989 or 2007. This is good news as the Bank of England are changing the rules for mortgage affordability for first time buyers in August. This means more Leeds people will be able to jump on the Leeds property ladder. If you are a Leeds homeowner, potential Leeds first time buyer or even a Leeds landlord, read this article to find out how the rule changes might affect you.
With Leeds homeowner’s mortgages at an all-time high, could the record levels of mortgages that Leeds people take out cause another property crash like they did in 2008/9?
24.2% of Leeds Property Sellers Reduce Their Asking Prices as the Property Market Starts to Return to Equilibrium
- 718 of the 2,973 properties on the market in the Leeds area have had a price reduction in the last 3 months
- The average reduction has been 5.3% of the original asking price
- This is great news for Leeds homebuyers and Buy-to-Let landlords, and strangely Leeds sellers as well
- The Leeds property market is on the verge of a ‘tipping point’.
- The rate of house price growth has started to ease with a reduction in the number of properties that will sell in Leeds in the coming 12 to 18 months.
- Yet, rising interest rates and the cost-of-living issues won't knock everybody out of the property market and there shouldn't be a housing bubble for two vital reasons.
- Inflation (and recessions) can be nerve racking for people and their hard-earned savings and wealth.
- Yet there are six reasons which make investing in private rental properties a potentially wise investment in these changeable times.
- This article looks at how investing in Leeds property could help you 'hedge' against inflation and protect your savings and wealth against the possible recession.
Well, what a Jubilee weekend that was! Celebrating the 70 glorious years of our Queen. Looking back at the housing market during this time, what has changed since 1952, especially regarding Leeds property? What did a mortgage cost a typical Leeds homeowner then and, was it cheaper to buy a house then than today? Can you guess what an average Leeds home cost in 1952?
- Many commentators believe we have seen the peak of the Leeds property market.
- So, should savvy bargain hunters wait for Leeds house prices to fall?
- Or could postponing your house buying for any anticipated Leeds house price drop be a costly mistake?
- According to some newspapers and pundits, the property market boom could soon be over with the increasing interest rates and inflation.
- In this article, I share the 3 fundamental economic reasons why things are different to the last property market crash.
- The insider’s way to find out if there will be a property crash.
- ...and 4 reasons why buy-to-let landlords are coming back into the Leeds rental market to protect their wealth and hedge against inflation.