A stable market

Affordability

At 5.3 times average annual earnings, Nationwide report that average house prices in Yorkshire and the Humber are the most affordable of any region in England, except for the North of England. Across our market many buyers are proceeding despite wider concerns.

In excess of 70% of home movers and over 90% of first-time buyers in our region currently benefit from zero Stamp Duty Land Tax when purchasing as their only residence. In the past year more than nine in every ten apartments in Leeds, Bradford and Hull, and over two-thirds of those sold in York and Harrogate sold for less than the £250,000 tax threshold. Of all houses with three bedrooms or more sold in the region, 87% were under £250,000¹.

Leeds leads the way

Across the region we now manage over 15,000 rental properties, up 19% year-on-year², and we are still seeing lots of potential investor landlords willing to buy. Leeds is setting the pace for investment activity. With indicative gross yields of 6.3% for a onebedroom apartment and 7.1% for

70% of sales in Yorkshire are below the £250,000 Stamp Duty Land Tax threshold.

Leeds Railway station is the third busiest station in the country outside of London, providing access to the city’s cafés, restaurants, shopping, culture and nightlife and over 134,000 job opportunities5

Renter requirements

For agents, landlords and renters alike, changes to Section 21 and Section 8 legislation within the proposed Renter Reform Bill are undoubtedly those of most interest. For landlords, any requirements relating to improved energy efficiency will also be keenly awaited. Over 93% of properties let in the past year have the potential to reach an EPC ‘C’ or above, although at present just 48% achieve this 3 For renters, regulations that makes it easier to move in or between properties with a pet will be highly significant.

a 2-bedroom (DRMA)3, Leeds city centre and its suburbs are a hot spot for activity.

More than £3.9 billion has been invested in the city, with a further £7.3 billion of development in the pipeline and under construction over the next decade. This will continue to boost the economy which is forecast to grow by 21% 4

Pet friendly

43%

Manchester and the North West

Covering