Average house prices in Leeds have increased above the national average in the 12 months leading up to April 2023, but there are some signs the price rises may be decreasing.
Across the UK, house prices increased by 3.5% in the year leading up to April 2023, making for an average increase of £9,000. However, this is lower than the peak in September 2022, and the price increase is now £7,000 lower.
This is also down from 4.1% nationally in March 2023, showing the price increases are slowing down. The average UK house price in April stood at £286,000.
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In Leeds, prices are now 4% higher than they were in April 2022, this is equal to the average across all of Yorkshire, which also sits at a 4% increase. However, in neighbouring Wakefield, prices are up by 7.1%.
This is similar to nearby Bradford, where prices increased by 5%.
You can find out how much prices have changed in your area using the following map:
Not everywhere in the UK has seen prices rise. House prices in Kensington and Chelsea fell by 15.8% in April compared to 12 months earlier.
It’s the largest year-on-year drop of any local authority in the country. Westminster had the next largest drop at 13.3%.
East Lothian is the property hotspot in the UK at the moment. House prices in the local authority just east of Edinburgh rose 17.2% in April. That’s up from 9.0% in March and 5.0% in February.
Fylde in Lancashire had the next largest annual increase at 15.5%, up from 14.9% in March. That’s followed by Melton (13.3%), Swindon (12.4%), Inverclyde (12.0%), West Devon (11.7%), and Merthyr Tydfil (11.6%).
