Property prices vary massively across the country – in some parts of the south east, £50,000 wouldn’t buy you a garage or beach hut, but in other places, you’d have spare change for refurbishments and holidays.
Take the north east for example. A terraced house in some parts of County Durham can be bought for £15,000 without shared equity but driving west across the border to Lancashire, you can get similar stock in Accrington and Rossendale for under £10,000.
In comparison, Leeds appears to be uber-expensive but back to the question in the title:
Can you buy a property for under £50,000 in Leeds?
Here’s Stephen Thorpe’s take on it.
We do occasionally get properties around the £50,000 mark but they’re not common at all. In Harehills, Beeston, Middleton, East End Park and Gipton, average sold property prices are much higher.
The ones that do make the headlines in the recent news report are unusual.
What we still see however is property sometimes being over-valued to secure a listing, when the realistic selling price is often much lower.
Leeds is a city of two extremes – a city centre with high values and million pound homes in places like Horsforth.
But there are property bargains to be had.
What’s interesting about all the properties too is that they all have a disclaimer attached: this sale may have been a buy-to-let, a transfer to a company, or a repossession.
You can read the full article here.
What this means is that each was probably Below Market Value and to cut losses was sold for these for such low headline figures.
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