How house prices are faring in Leeds as national average due to hit £300,000
October saw the biggest monthly rise in UK house prices since January this year as property experts predicted the average home could break the "landmark" £300,000 barrier by the end of the year - though unlikely here in Leeds just yet.
The value of the average UK home increased in October by 0.6%, or £1,647, Halifax revealed in its House Price Index released today.
That brings the average property price up to £299,862 – the highest on record – while annual growth also increased to 1.9% from 1.3%.
According to the data, house prices in Yorkshire and the Humber average out at £216,746, which tracks as an annual 2.5% increase. Regional annual change figures are based on the most recent three months of approved mortgage transaction data.
The Halifax House Price Index does not provide city-specific data but Leeds' average house price was around £244,000 in August 2025, a 4.2% annual increase according to the Office for National Statistics.
According to RightMove and using its ‘sold’ prices register, The majority of properties sold in Leeds during the last year were semi-detached properties, selling for an average price of £284,701. Terraced properties sold for an average of £217,069, with detached properties fetching £480,593.
Experts expect the £300,000 national average barrier to be broken before the end of the year.
The Bank of England left the base rate on hold at 4% on Thursday, but many mortgage lenders have been cutting the fixed-rate products they are offering in recent days in response to swap rate movements and also looking to secure final business before the end of the year.
There were also positive signs on Thursday as the Bank of England suggested that inflation has now peaked – and is expected dip over the coming mon
Amanda Bryden, Head of Mortgages at Halifax, said: “Demand from buyers has held up well coming into autumn, despite a degree of uncertainty in the market, with the number of new mortgages being approved recently hitting its highest level so far this year.
“There is no doubt that affordability remains a challenge for many. Average fixed mortgage rates are currently around 4% and likely to ease down further, but with property prices at record levels, moving home can feel like a stretch.
“Rising costs for everyday essentials are also squeezing disposable incomes, which affects how much people are willing or able to spend on a new property.
“Even so, while there has been some volatility, the market has proven resilient over recent months, as many buyers opt for smaller deposits and longer terms to help make the numbers work. With house prices rising more slowly than incomes for almost three years now, we expect the trend of gradually improving affordability to continue.”
Jonathan Handford, managing director at estate agents Fine & Country, said: “Today’s figures are a clear sign that the market is stirring back into life after what has been a fairly steady year for house prices. This uptick reflects easing affordability pressures, stabilised mortgage costs and an underlying buyer confidence that remains intact.”