What is the property market like in Leeds?

It seems I've been a bit remiss and become all East Anglia blinkered in my publications, forgetting that there is a place called the North of England, a place I originate from, but have paid little attention to in recent years.

Leeds though will always hold a special place in my heart.

I went to teacher training there in those dark post-Sutcliffe days in 1986 and I still hold fond memories of the city.

• Men calling other men "love". 
• The friendliness of people.
• Winter temperatures freezing pipes in my bedsit in Headingley.
• The beer: Tetley's in the city centre at the Brewery Tap.
• Expensive house prices, even in 1986.
• The growth of the financial powerhouse in Leeds city centre.
• Elland Road.

Having recently made connections on here with people heavily involved with the Leeds property market, I thought I'd do a cursory analysis of its performance as a city, in property terms.

The first thing that struck me today was that Leeds is expensive, okay not Harrogate or York expensive, but property averages are higher than where we live on the isolated east coast of Norfolk.

The average property price is just shy of ￡181,000 with places like Roundhay being much more expensive.

Leeds, with an overall average price of ￡180,675 was more expensive than nearby Leeds City Centre (￡139,224), but was cheaper than Chapel Allerton (￡201,392) and Roundhay (￡265,691). In the past year house prices in Leeds were 4% up on the year before and 9% up on 2007 when they averaged at ￡165,588.

Leeds has also got a massive student population which means that large 9 bedroomed villas in the likes of Headingley and Hyde Park command six figure sums.

Just looking at Headingley, where I lived on the Granbys in 1986, convenient for The Skyrack, though I walked often to Far Headingley to the Three Horseshoes (I think), there's 256 properties listed on Rightmove, with 127 sold, 50% then.

The price range there is very broad: commercial premises for ￡30,000 upwards, studio flats around ￡58,000 up to Victorian villas at ￡1.1 million.

What's less unexpected is that there are over 3000 rental properties listed within one mile of Headingley and some of the prices made my eyes water!

I paid ￡30 pcm including gas and electricity in 1986 but these prices have long since gone in LS6. 

A shared house now costs upwards of ￡200 per person per month, with no utilities thrown in.

There's clearly demand though as many are already let and with high yields and 4% capital growth in 2015, Leeds looks as safe as houses as a place to invest in.

If my son goes to Leeds University one day, I'd look forward to revisiting the city and seeing how much it has developed since 1986.

Whitelocks may even be called into for a pint (assuming it's not closed down), as my favourite city centre pub from 30 years ago.