Leeds has seen a surge in popularity in recent years thanks to its thriving economy, diverse population and ongoing regeneration. But is this West Yorkshire city the best place for you to set up home? While that will depend largely on your circumstances, this post will look at the pros and cons of buying a house and moving to Leeds to help you decide. We’ll also explore the state of the city’s housing market and some its most popular neighbourhoods for inspiration.
What is the housing market like in Leeds?
Leeds is one of the fast growing cities in the UK, with an economy that has expanded by 40% in the last ten years alone. Plus, with a huge city centre development and high speed rail upgrade well underway, demand for properties is continually rising.
As a result, house prices in some areas of Leeds rose by almost 10% from May 2021 – 2022. However, despite its booming housing market, first-time buyers and young families can still look forward to a relatively low cost of living and affordable housing compared to other major cities.
As of autumn 2022, the average semi-detached house in Leeds sold for £268,269 – that’s almost £30,000 less than the national average! And, if you’re happy with a slightly smaller terraced property, you could pay as little as £174,364.
Pros and Cons of Life in Leeds
If that sounds good to you, you’ll probably want to know more about the perks of moving to Leeds. The city centre is well known for its majestic shopping arcades and boutiques, various restaurants serving dishes from around the world and top museums like the Royal Armouries.
Key event venues in the city include Leeds Grand Theatre which attracts some of the UK’s best touring musicals, and First Direct Arena which hosts concerts year round. Alternatively, you can dance the night away in the lively Northern Quarter bars. There’s always something to do!
Slightly further afield, you’ll find a number of green spaces and historic sites like Kirkstall Abbey, Temple Newsam and Harewood House. And thanks to Leeds’s great transport links, you can travel to London in just 3 hours or Manchester in 60 minutes.
However, there are some downsides to living in Leeds. The first is how busy it can get, which leads to lots of traffic and resulting delays. Secondly, though the city does have an airport, it is only small and flights are quite limited versus other major cities.
Thirdly, although city centre flats and terraces are usually affordable, if you want more space without moving further out, you’ll have to stretch your budget. The same goes for suburbs to the north like Roundhay and Horsforth, where you’ll pay a premium over less affluent parts of Leeds.
What are the best areas to live in Leeds?
So where do we recommend moving to in Leeds? Here are some of our top picks to suit every preference:
A hotspot for young professionals and families, Chapel Allerton was recently named one of the UK’s coolest neighbourhoods by Time Out magazine. Located in north east Leeds, this leafy suburb boasts independent shops and cafés, vibrant street art and numerous live events. However, just like neighbouring Roundhay, prices here are higher than the city’s average.
Described by many as an up and coming area, Meanwood is affordable and conveniently placed on Leeds’s outer ring road. Yet you’d never know that this village-like suburb is just 3 miles away from the city centre. Its popular bars and restaurants are accompanied by regular arts and crafts fairs and farmers markets. Not to mention a 7 mile nature trail through woods and parkland.
Want to be closer to the action? Leeds waterfront is just a stone’s throw from the city’s main attractions. Offering great views over the canal, this sought-after location is home to an array of chic apartments, some with their own balconies. The waterfront also has its own dockside bars and restaurants if you don’t fancy walking into town, and the Royal Armouries is on the doorstep.
If you’re looking for a family-friendly suburb within easy reach of Leeds city centre, then Kirkstall should definitely top your shortlist. Alongside its 12-century abbey and parks, there’s a shopping park and plenty of places to eat. You can also get great value for money when it comes to purchasing a property here, with many terraces featuring lofts and basements for extra space.
What are the most affordable areas in Leeds?
If affordability is your main priority, some of the cheapest postcodes to buy a house in Leeds are:
- LS2 – close to the city centre and Leeds University, covering areas like Woodhouse.
- LS9 – a diverse area in east Leeds including Harehills and Osmondthorpe.
- LS10 – Hunslet has lots of 3 bed terraces and semi-detached houses for families.
- LS11 – part of the South Bank Development, new apartments are being built in Holbeck.
- LS12 – Armley has a range of amenities, including a leisure centre with pool and gym.
You can also find reasonably priced family homes with gardens in Pudsey, Farsley and Morley.
The easy way to sell your home and move to Leeds
If you think that Leeds is the place for you, why not let us help? Whether you’re keen to move quickly following a divorce or you’re struggling to sell a property in a declining area, we’ve got you covered. In fact, we will buy any home in any condition, wherever you’re currently based. Better still, as reputable cash house buyers, we can deposit the funds into your account in as little as 1 week once a price is agreed. This means you can move sooner rather than later and avoid excess hassle. Claim your free cash offer today to find out how much you could receive.