Housing Crisis in Leeds

The property market in Leeds is at crisis point with many families facing a scenario which is more familiar to that of the 1950s housing situation.
According to housing expert Derek Long the future for property in Leeds is so bad that it's even forcing families to live apart as there simply aren't enough family homes to meet demand, and those that are available are simply not affordable.

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    • The economic downturn has left both the private sector and public sector unable and reluctant to create new developments to solve the issue. Over the whole of the Yorkshire and Humber region only 8,950 houses were built last year, the lowest level in the past 90 years which has left two thirds of the demand unattended to.

    To make matters worse many banks are also reigning in their lending options and offering only mortgages of around 75 – 80 per cent compared to a few years ago when you could get a mortgage of around 110 per cent.

    This means that for those looking to get a step on the Leeds property ladder you'd need an average deposit of £25,000 just to get a modest sized home which is at least £4000 over the average salary in the area. All of which makes for a very unsettling future for those looking to buy in the Leeds area.

    So if you're looking to sell your property, now is your chance to ensure that you get the price that you're after. With such a high demand for family housing in Leeds, not only are you more likely to get the asking price you're after but a quick sale will no doubt be pushed for. Meanwhile if you're on the purchasing end of property in the area no doubt this article has only highlighted the grim facts which you were already aware of.

    Therefore with prices so high and unreasonable deposits required, it only makes sense to cut costs wherever you can. This is where Online Conveyancing can help. Not only will Online Conveyancing ensure the speed of your property buying or selling process that you're after, but when it comes to real estate in such an unpredictable area it also guarantees you one of the most competitive rates around. Online Conveyancing cuts out the middles man, slashing your fees whilst also getting your paperwork moving.

    So if you're looking for an efficient and cheap option for your property conveyancing get in touch with Online Conveyancing today.