First-time buyers were expected to shell out an average of nearly £220,000 for their home this month.
The average asking price for a house typically bought by a first-time buyer* was £218,201, according to Rightmove’s Monthly House Price Index. The index – and the largest monthly sample of residential property prices – also revealed a surge in house prices.
The average UK house price hit a record £354,564 this month, a 10.4% year-on-year increase and the biggest rise since June 2014. The average house price in Yorkshire was of £230,935, a year-on-year increase of 12.4%. .
Read more: Huge detached house for sale in Leeds but only those who really want it will know the price
For first-time buyers across the UK, this is an increase of 8.4% year-on-year. Buyers higher up the real estate ladder have faced even greater year-over-year price increases.
So if you’re looking to buy your first home and have an “average” budget, what could you buy in Leeds? We’ve scoured real estate websites to find out how high this “average” amount goes when buying a first-time buyer home* and homes in general in the city.
*Rightmove based this on homes with two bedrooms or less.
There’s plenty to choose from, but it’s worth noting that while £220,000 goes far enough in Leeds, an ‘average’ first-time buyer’s budget here is likely to be below the UK average.
This two bedroom duplex on the aptly named Central Road is about as central as it gets, just off Kirkgate and parallel to Briggate.
The elegant apartment, in the Grade II listed Vassalli House, has a kitchen and a reasonably sized living room on the lower level. Climb the spiral staircase to the upper level where there are two double bedrooms and a family bathroom.
You won’t find many detached homes for £220,000, but here are a picturesque example.
This well presented little house has two bedrooms, a reasonably sized living room, kitchen and conservatory. There is a small back yard with a decent outbuilding which could be used as a gym or office.
Need more space? This semi-four bedroom at Pudsey has it including a garage and a driveway with space for two more cars.
It needs updating and some rooms need redecorating, but it is ready to live in. There is the benefit of small gardens to the front and rear.