Leeds house prices rise £20,000 in a year

UK property values saw an upturn of 1% - worth around £2,955 - in this week's House Price Index.

Homes in the West Yorkshire city saw a month-on-month decline of £2,653, however properties increased by 7%, worth £17,122, in the 12 months to May this year, pricing the average property at £241,163.

The rise was mirrored across the West Yorkshire region where house prices gained an average of £16,241 over the last year. County-wide average prices rose to £205,584.

House prices in England saw an annual price rise of 3.4%, making the average property worth £290,000, while Wales had a 5.1% increase and homes stood at £210,000 on average.

North of the border in Scotland there was no monthly increase but an annual 6.4% rise, meaning the average Scottish home now costs around £192,000.

The report revealed more than 80,000 properties were sold in March 2025 surpassing the totals from both 2023 and 2024.

Tom Evans, sales director at Purplebricks Estate Agency said: “Great news once again for the nation’s homeowners, and at a promising time for first-time buyers too.

“The falling interest rates over the last 12 months has helped drive down mortgage rates and drive up property prices - and the forecast base rate cut in August should continue that trend.

“We are confident house prices will continue to rise into next year, meaning your home at the start of 2026 will be worth more than it is today.”

Robert Nichols, managing director of Purplebricks Mortgages said: “This is the best time to be a first-time buyer in recent years.

“Lower interest rates, means lower mortgage rates. And, while that is pushing up house prices, it also acts as a confidence booster to would-be buyers that owning property pays dividends.

“And, the government’s new ‘Helping Hand’ scheme for first-time buyers - making more mortgages available at 4.5 times a buyer’s income - will drive more movement in the market.”

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