We know, as estate and letting agents based in east Leeds, that our city has a vast range of property prices based on the old truism of location. Certain suburbs of Leeds have huge average sale prices, well above the national average, whilst others sit well below. It was interesting then to see results from a Rightmove survey of UK property prices that showed some interesting places, that few would have perhaps predicted.
Before we reveal the list fully, the top spot was taken by Toxteth in Liverpool, a place that you wouldn’t usually associate with property price growth, given its past in the 80s, but it seems to have reinvented itself and sits on top of the pile. Liverpool has invested heavily in housing it seems and there are shades of regenerative growth that east London has seen in places like Stratford.
Tim Bannister, Rightmove’s director of property data, said:
“There’s been significant growth across so many areas of Great Britain over the past year, which is reflected in the new price hotspots, where six different regions appear in the top 10. The number of homes for sale is at a record low, and buyer demand remains high. This competition for properties is supporting price growth.”
Here’s the full list:
1. Toxteth, Liverpool, Merseyside, £151,958, 20%
=2. Accrington, Lancashire, £139,220, 19%
=2. Retford, Nottinghamshire, £210,761, 19%
=2. Heywood, Greater Manchester, £194,634, 19%
=5. Brixham, Devon, £318,859, 18%
=5. Crowborough, East Sussex, £501,537, 18%
=5. Aberdare, Rhondda Cynon Taf, £165,322, 18%
=8. Moortown, Leeds, West Yorkshire, £327,804, 17%
=8. Penwortham, Preston, Lancashire, £251,478, 17%
10. Great Sankey, Warrington, Cheshire, £270,621, 16%
Now, don’t get us wrong, we all know Moortown is one of the most desirable suburbs of Leeds. LS17 has indeed featured as one of the most expensive suburbs in Yorkshire since it came to prominence in a Times article in 2007. It is home too to many of the Jewish community in Leeds, as is Alwoodley. It has excellent road links with the A61 and A6102, just 3 miles from Leeds city centre and 8 miles from Harrogate, making it popular with professionals.
Our point though is that as well celebrating the sought-after suburb of Moortown, there is hope doe property price growth in Harehills, East End Park, Seacroft and Gipton, given that many others in the list, like Accrington, Heywood, Aberdare and Toxteth, are not perceived as desirable places in their own right. Brixham, Penwortham, Moortown and Crowborough yes, but not the four mentioned.
In Liverpool, a leading estate agent attributed Toxteth’s first place to several factors:
Warren Matthews, an agent at James Kristian Estate Agents in Liverpool, said: “Due to the improvements in the area, places like Toxteth have grown in popularity, and we’re now seeing properties appeal to a wide range of buyers, from first-time, next time and investors. This has pushed demand up which has therefore significantly increased prices in the area, and we’re still seeing high levels of buyer interest as we approach the final months of the year.”
Perhaps, this year and next year, east Leeds will see similar growth for investors and property owners? We think it should, given its housing stock, relatively low prices and closeness to Leeds city centre.