Value in Leeds / "Up and Coming" Areas

Dirk_Digg

Hi all,

I have recently moved to Leeds due to work and, after years of saving, am looking at buying my first house. I have limited knowledge of the city but am aware of what are generally considered the "nice" and "not so nice" areas.

I have been recommended to look in the north (Chapel Allerton, Horsforth) but was shocked at how much more expensive properties are here when compared to other central areas. Given that I'm single (and so have flexiblity where I can live) and this is my first step on the housing ladder, I'm in search of a house / area with good potential for growth.

Does anybody have knowledge of Leeds and any advice for where I should look? I work in the centre so would need good public transport links. My budget is £250,000 and I would look to rent out any spare rooms (so rental demand is also a factor).

Any advice would be much appreciated!

daveyjp

I think I'd rather buy based on what fits my lifestyle, rather than try and second guess which areas may see most capital growth and have a miserable existence living there until they do.

If getting to central Leeds is important I would look at areas close to every railway station within a few miles of the centre which has regular services.

In some areas close to stations your budget will buy two houses, in others not much at all.

thermal2844

Well as far as rental demand, Headingley and Kirkstall are popular areas with students.

As far as nicer areas that cost less than Horsforth et al, theres Farsely, Pudsey, and Rodley, to the west.

nkkingston

There's been a gradual gentrification of the studenty parts of Leeds over the years as people have found work and stayed in the city, shifting areas into a young professional bracket instead. Horsforth has always been expensive, but Chapel Allerton gentrified a while back, and Headingley is about 90% there.

Kirkstall still has some relatively cheap bits (and there's a new station, which is handy!), while Bramley and Burley are both still pretty cheap but quite lively. The metro that runs from Leeds to Horsforth is a good line to keep an eye on for getting into the city centre easily (plus, if you're planning to rent rooms out, the universities have campuses in Headingley and Horsforth, so it's convenient for students).

Dirk_Digg

Thanks for all of your replies. Kirkstall, Burley and some parts of Headingley do seem significantly cheaper than Chapel Allerton for example (particularly for 2 and 3 bed terraces) and I was wondering whether these differences were merited. I plan on walking around the areas some time but wanted to focus on the areas which might be considered good to buy and then make an assessment on where I could see myself living.

Would rental demand in these areas be predominantly students or is there also a demand for young professionals?

daveyjp

Far Kirkstall, i.e. after Kirkstall Abbey towards Horsforth is up and coming due to Kirkstall Forge development and a new station. Handy for Horsforth and Headingley for amenities.

The new homes at Kirkstall Forge will be avaialble next year. No idea on prices, but they aren't the norm in terms of design so I don't expect bottom end prices.

Burley is handy for city centre, but along with Headingley is still student land. Far Headingley into West Park may be a better option.

For some reason Chapel Allerton does nothing for me.

PixelPound

Student areas have higher crime - recurring burglaries i.e. rob a student wait until insurance pays out and rob again. Bramley is on that side of leeds and probably a better option, If transport into Leeds is crucial either go towards one of the railway stations or check WYmetro site for the bus terminus points or main routes in so that you have a high selection of services.

There are a lot of former not-so-nice areas like Holbeck and Middleton that are changing because of house building policy so house prices there will most likely give better returns. Especially if you factor in transport links like the Leeds TrollyBus service or the HS2 line.

bigisi

Don't rule out Chapel Allerton on your budget. I've just done a Rightmove search within 1/2 mile of my house (in Chapel Allerton) and there are six three bed semis for £250k or less. The cheapest one at £155k I wouldn't class as Chapel Allerton but the estate agents would have you believe it is. The others are all fairly close to the centre with one bordering Moortown which is a decent area. Plenty in North Leeds within your budget.

I'd imagine if that search was up to a mile you'd be spoilt for choice.

Dirk_Digg

Thanks bigisi. I do like the look of Chapel Allerton and it sounds like there will always be a strong rental demand there.

Where would you consider the good areas to be in Chapel A and which ones would you avoid? From what I’ve read, below Potternewton Lane is best avoided?

bigisi

On the link below the area shaded in Red is what Google maps reckons the area of Chapel A looks like. The blue area I've drawn I'd say is where anybody who wants to live in Chapel Allerton will be wanting to buy.

Avoid the Miles Hills, Potternewtons, Beckhills (all LS7 but not really places anyone wants to live.

Chapel Allerton

Other areas you could consider; Moortown, Alwoodley, Meanwood, Oakwood, Roundhay. What you'll get for your budget might not be what you'd get in other areas of Leeds but these are the more desirable areas of North Leeds with decent commuting links.

Edit - I was going to point you in the direction of Charlotte09's similar thread but I've just noticed you were the last to comment on it so you've seen it anyway

Dirk_Digg

That's relly helpful - thank you. There seems to be expensive terraced housing closer to Harrogate road but more value further away. I'll be keeping an eye out over the forthcoming weeks!