If you’re familiar with Leeds at all, you’ll know it’s a city with some strange idiosyncrasies – one is the definition of suburbs via postcodes (like London) and the other is the vast range of prices depending on compass point. You want the most expensive properties in Leeds? Stand in the centre and face north. North is LS14 and LS17 and here property prices easily exceed the average for Leeds.
If you look east instead, to the rising sun, LS9, or Harehills and its surrounding areas, provides the best value. Not only are property prices affordable, but because of its closeness to the city centre and hospitals, it has high rental yields.
Hogan’s Estate Agents sit in the epicentre of Harehills and it’s an area we’ve proudly served for over 30 years.
We think, too, that there are signs of investment in the area and who knows, Harehills may become as an attractive an area as Kirkstall as become? 30 years ago, that suburb had little catches, but it does have kerb appeal now as a place to live.
So what can you get for you money in Harehills as a Leeds property investment?
Quite a lot actually.
It’s an area typified by Victorian terraced homes, that don’t have the rigid uniformity of some suburbs. You have homes with basements, homes with expansive gardens, homes that have three storeys and more.
Hilton Road and Spencer Place, closer perhaps to Chapeltown, have large homes like this that regularly appear for sale, as investments with tenants in situ, or as perfect family homes. What’s more impressive is the price you’d be asked for a home or investment in Harehills – £55,000 for a 2 bedroomed auction home up to just shy of £400,000 for a 7 bedroomed HMO.
These prices are rising too – 10% has been the capital increase, according to Rightmove, since 2019. £111,602 is the average sold price in Harehills, half that of the aforementioned Kirkstall.
Rental demand in Harehills is high too, with low supply. At the time of writing this post, just 25 properties are available to rent in Harehills, with many more let. Rentals start from £430 per month for a studio flat in the area, up to around £900 for a 4 bedroomed semi-detached home.
Harehills is close enough to walk to the city centre too for buyers and tenants – a 1.6 mile stroll along Beckett Street will have you facing Kirkgate Market in just over half an hour. Jimmy’s is just a 10 minute walk away for staff and patients alike.
If you’re looking to either sell or invest, Hogan’s have the expertise to guide you. We are biased, being based in the east of Leeds, but we do think it’s a great area to call home for yourself or tenants. Have a look at properties for sale or for rent on our main website here.
Remember too that Harehills could even become the next Kirkstall.
