What is happening with property in Harehills?

by on 23rd August 2018

The end of summer is approaching – unless we get the Indian summer that seems to be a regular occurrence in September and we thought it would be a good time to look at the property market locally, which has faced uncertainty, not only in Harehills or Leeds, but nationally.

Harehills though remains an area where property stock – whether that’s to let or for sale – moves quickly. It’s a part of Leeds that is relatively affordable and yet is close to the city centre.

Most of the sales in Harehills over the past year were terraced properties which on average sold for £89,235. Semi-detached properties had an average sold price of £130,294 and detached properties averaged at £139,099.

Harehills, with an overall average price of £103,229 was cheaper than nearby Leeds (£199,967), Roundhay (£289,171) and Seacroft (£142,572).

Terraced houses sell quickly, because they’re solidly built, offer good space for the investment and because they’re in plentiful supply. The gap between semi-detached and detached properties is surprising from the Land Registry figures but both types of home are in much shorter availability than terraced homes.

Let’s look at the average terraced home price and make assumptions you’re a first time buyer.

Now we must point that these figures are purely illustrative and as with any financial decision you must take independent financial advice.

A mortgage for £80,000 with a £10,000 deposit and good credit rating is calculated online as requiring capital and interest repayments for 25 years would cost under £350 per month.

The better news though for you is that we have stock locally with asking prices below that average:

Clifton Mount is available for offers in excess of £71,000.

Nowell Mount is priced slightly lower at £69,995 which would mean a mortgage less than the example quoted.

Or another on Nowell Mount at £62,500 – you can see that one here.

If you would like to know the value of your home in Harehills or elsewhere, contact our friendly team at any time and we will gladly help.

 
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