Homeowners in Leeds are sitting on a property goldmine which will have earned them an average of £11,500 in profit over the past 12 months.
The average house price in Leeds now stands at £187,500, up from £176,056 the year before.
That's according to Zoopla's UK House Price Index Report, which analyses millions of sales to understand the state of the property market.
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Leeds sits in one of the most in-demand property markets in the UK. Average house prices in Yorkshire and the Humber have risen 7.6 per cent over the past 12 months.
Despite the huge increase in value on the average Leeds home, the city's 12-month average increase (6.5 per cent) sits just marginally lower than the UK average year-on-year rise (6.6 per cent).
Nonetheless, property prices in Leeds and across the north are set to continue rising into 2022, albeit at a slower rate.
"In many parts of the UK housing remains affordable by historic standards," says Zoopla's September 2021 House Price Index Report.
"The chart shows that the regions and countries with the highest growth rates are the most affordable - measured by the house price to earnings ratio.
"We believe there is headroom for further, above-average house price inflation in regions outside southern England.
"We expect house prices to continue to increase at an above-average rate in regional housing markets over 2022, albeit at a slower pace than currently."
Rightmove also recently released data which showed that house prices across the country have risen to their highest ever levels.
Across Britain, the average asking price for a property is now £344,445. For first-time buyers, that figure stands at £210,672.
“Competition for property for sale remains hot this autumn, with average prices jumping by almost £6,000 in the month," said Tim Bannister, Rightmove’s director of property data.
“Although more properties are coming to market, the level is still not enough to replenish the stock that’s being snapped up."
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