INCREASE IN DEMAND FOR HIGH QUALITY RENTAL PROPERTIES
DIANA WARR, SALES AND LETTINGS EXPERT AT SANDERSON WEATHERALL TALKS YOU THROUGH THE STATE OF THE RESIDENTIAL PROPERTY MARKET
“Having worked in it for so long, Sanderson Weatherall know the Leeds market inside and out and combine this local market knowledge with a real passion for property that enables them to work with you and find your own special place Leeds City Centre.
With plenty going on in Leeds at the moment and a raft of new properties on the market there has never been a better time to move to the city centre. Diana Warr, sales and lettings expert at Sanderson Weatherall’s Wellington Street Office spoke with us about the current state of the Leeds residential property market.
“At the start of the year there were predictions of a slower market with the anticipated rise in inflation, lower wages and of course, the political uncertainty all expected to have a negative effect on demand and supply. The Leeds market has, as it always does, proved it’s resilience with increased numbers displaying an interest in moving to the city.
“The difference in demand for out of town locations and the city centre further reinforces the revival in appeal, desire and general view towards city centre living. Across the city the average rent for a one bedroom flat is £650 per calendar month (pcm), with two bedroom flats going for on average £895 pcm. These figures will vary across the city with location, security and quality of the property generally causing fluctuations either side of the city’s average.
“In recent months we have however, noticed a real increase in the number of ‘prime’ rental properties being brought to the market as landlords seize the chance to capitalise on the level of demand for high end flats and apartments.
“Rents for these higher end properties will often rise to over £1,000 pcm for a two bedroom flat and can increase to over £2,000. In the coming weeks we have a fabulous 3 bedroom penthouse apartment in the exciting Merchant Quay (pictured) development that will be coming to the market for £2,500 pcm, ‘it’s really not one to be missed.’
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Head to Sanderson Weatherall at 25 Wellington Street, LS1 4WG or visit their website for more details: www.sw.co.uk