Leeds property prices showing no sign of recovery

Asking prices for properties in Leeds have fallen by 3.3% in the last twelve months, according to new data released by property website FindaProperty.com. The average asking price for a property is now £176,315, nearly £6,000 less than in October 2009.

Property prices have continued to decline in the last month, by 0.2%. This could, in part, be a result of an increasing number of properties for sale driving prices lower. Over the last 12 months, the number of properties for sale in Leeds on the FindaProperty.com site has increased by 76%.

Nigel Lewis, property analyst at FindaProperty.com, commented: “The decline in house prices in Leeds has slowed in recent months but sellers are still typically looking for between three and four percent less for their house this year than they were last year.

“Combine this with a glut of properties on the market, and it is an attractive time for people who are looking to buy a house in the area.”

Across Yorkshire and Humberside, house prices have had a difficult 12 months with prices down by 2.5% from last year at £160,289. This compares to a decrease of just 0.6% nationally where the average price is £218,459.