New homebuyers flock to Leeds

Data from SmartNewHomes.com reveals that Leeds has seen a huge increase in the number of new homebuyers looking to move to the area over the last year.

The figures make Yorkshire & Humberside the third most popular region in the UK behind only the South West and Scotland.

Leeds popularity stems from its extensive regeneration over the last few years, as well as the fact that it remains an affordable part of the country with prices on average 6.8% cheaper than the average UK price over the last year and 12.4% cheaper than cities such as Manchester in the nearby North West.

Yorkshire has been widely tipped by experts as an area likely to see house price rises and Leeds, historically undervalued relative to cities such as Bristol and Birmingham, is now catching up fast.

The city is one of the fastest growing in Europe, fuelled by its status as a respected centre for professional services, and the influx of employees and residents this brings about.

David Bexon chief executive of SmartNewHomes.com says: “Leeds is emerging as a real gem of the north with booming employment, excellent shopping and entertainment facilities, and good transport links across the UK.

“New home builders are tapping into the demand for the city with a range of developments and the city is certainly likely to see its popularity and house prices rise yet further over the next few years.

“Leeds financial strength and prospects derive from a new and eclectic mix of industries and services. The city now plays host to a mass of call centres, IT businesses, and legal firms as well as a huge local government network, retail and leisure facilities.

“To satisfy the pay cheques burning a hole in the pockets of Leeds newest residents, Harvey Nichols opened a store here in 1996 and many other retailers have followed, resulting in a city centre bursting with around 1000 outlets.

“The regeneration has resulted in the city centre become desirable and new apartments targeted at young professionals now dominate with the most significant being the transformation on Leeds waterfront.

“Crosby Homes is soon to release the second phase of Clarence Dock which, when completed, will consist of 1,100 luxury one and two bedroom apartments integrated with commercial and leisure developments over 15 acres.”