House prices in Yorkshire have increased by 3%, meaning renting in Leeds, Bradford and surrounding areas, have also increased. The average rent per month now is £830, compared to 2021.
Properties to rent in Leeds are becoming competitive, with the number of properties to let in Yorkshire decreasing significantly, compared to previous years. For example, in 2019 there were more than 125,000 available properties to rent in Yorkshire. In 2022, there are less than 50,000 properties to rent in Yorkshire. The reason for the increase in house value in Leeds & Bradford, directly correlates with the stamp duty holiday. Individuals such as first-time buyers simply cannot afford the larger deposits, demanded by banks.