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Future house buyers could struggle as house prices peak

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Data from ONS suggests that average house prices in Leeds, along with the national average, could peak above the budgets for those on an average wage in the city.

Though Leeds house cost averages currently stand £50,000 below the national average, it was a difference of £65,000 in November 2021. As of

The plateau in wages hasn’t helped the issue, with the national average generally staying over £100 better off a week than Leeds. Even in March 2023, when the city’s average increased, the national average was still well ahead. Lower weekly wages may stop people from accessing housing in the city.

Another woman, from Rothwell, said, “In 1984, we bought our house for just short of £23,000. Well now, I think it would go for £200,000-£230,000.

“We’ve had our house for so long that we don’t have a mortgage but if we were to downsize then I suppose I would worry.

“Younger people and people just starting out are worse off because mortgages and deposits are so high. When we got ours, I think we had to find a £100 deposit and it seemed like a lot of money at the time. But houses near us seem to be getting sold within a few weeks, it’s only the ones that need a lot doing to them that don’t get sold quickly”.

Taken by Joseph Jacklin
Joseph Jacklin Taken by Joseph Jacklin

Shelley Joyce, of Leeds Homeless Street Angels, said: “There are so many people homeless now the council are struggling to help everyone, and they are having to prioritise certain needs.”

“In 2022/2023, Leeds Homes had almost 70,000 customers contact them and they currently have over 26,000 households on the Leeds Homes Register. The current financial climate is having a huge detrimental effect on these figures with many of our clients struggling to keep a home once they have one due to the cost of living.”

Shelley said, “I believe that more help needs to be available once someone is given a property as a lot of our guys don’t have any learned life skills and do struggle once they have a property. Mostly being at risk of being homeless again.”

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