The latest UK House Price Index (HPI) for March 2024 presents a compelling contrast between the housing markets of Yorkshire and the Humber, particularly West Yorkshire and London.
Key Highlights:
Yorkshire and the Humber: This region saw a robust 5% annual increase in house prices, with an average price of £210,000.
London: Conversely, London experienced a decline in property values, reflecting a downturn in the market of up to -22.2%,
North UK Favourite Investors Spots Comparison:
Leeds, West Yorkshire: 4.0%*
Manchester: 2.3%*
Liverpool: 0%*
* Capital appreciation growth by UK House Price Index March 2024
London's House Prices:
Having grown at its highest rates of 2.4% in Greenwich, 1.5 % in Islington, 1.4% in Southwark
3 other boroughs are between 0.6%-0.2%
All other boroughs are experiencing negative growth up to -22.2% in the City of London.
Why Invest in Leeds and West Yorkshire?
Strong Growth Potential: The significant price increase in West Yorkshire indicates a thriving market with good prospects for capital appreciation.
Affordability: Unlike London, property prices in Leeds and West Yorkshire are more affordable, offering better value for money.
Economic Development: Leeds, as a major economic hub, is experiencing ongoing development and investment, enhancing its attractiveness.
Quality of Life: West Yorkshire offers a high quality of life with excellent amenities, making it a desirable location for residents and investors.
Low Repossession Rates: West Yorkshire maintains a stable market, with low repossession rates contributing to its investment appeal.
Investing in Leeds and West Yorkshire presents a lucrative opportunity, combining strong growth, affordability, and economic vitality. For more detailed statistics and information, visit the UK House Price Index for March 2024, National Statistics.
Comments