Published: 17/06/2021 By ARIf you’ve read anything about the property market in the past year, you will likely be aware that people are leaving London in high numbers. With remote working now the norm for many professionals, there is no need for people to feel tied to their workplace.
When you consider the cost of property in London, and the lack of space in so many areas, it is no surprise that a lot of households are looking to sell their home in the capital, and move elsewhere.
There are many things for people to consider when moving to a new area, and some key factors which always loom large include:
- The presence of family or loved ones
- Whether the new area can offer the things a person or household values in life
Leeds wins on affordability
Firstly, let’s quickly consider the average price of property.
According to Rightmove, the average price of property in Leeds, as we enter July 2021, is:
“Properties in Leeds had an overall average price of £228,148 over the last year.
The majority of sales in Leeds during the last year were semi-detached properties, selling for an average price of £237,222. Terraced properties sold for an average of £163,663, with flats fetching £159,340.
Overall, sold prices in Leeds over the last year were 14% up on the previous year and 21% up on the 2018 peak of £188,869.”
According to Rightmove, the average price of property in London over the past year stands at £791,300. Even if you only look at the average price of property in the London Borough of Bromley, often cited as the most affordable borough in the capital, Rightmove states the average price of property is £546,995.
Your money goes further in Leeds
Your money can go a lot further in Leeds. In a time when people crave space, a garden and a great community, it is easy to see why a home in Leeds appeals to people moving away from London.
The LeedsLive website recently ran a feature on a life-long Londoner who left the city, and settled in Leeds. Some of the most pleasing things she found in her first few months in the city include:
- Leeds is stunning, and the saying “God’s Own Country” carries a lot of truth
- God’s own County isn’t just a saying, it’s a fact
- Street food is better in the north of the county, and the foodie scene in Leeds is well worth checking out
- The affordability of a night out, and how the average price of a pint is £1 less in Leeds than in London
- The people are friendlier
- There is a great range of culture on offer in Leeds, and the compact nature of the city makes it easier to explore
We're an independent Estate & Letting Agents based in Leeds. We pride ourselves on high quality service and expert local knowledge delivered through focused, passionate, and well-trained staff. Our Team are residential property specialists with an intimate and unique in-depth understanding of our local market. Call us on 0113 246 4860.