Skip to main content Skip to footer

Monitoring the premium 2 bed to 1 bed

Is it possible to monitor the average extra cost of a two bedroom property compared to a one-bedroom property in West Yorkshire? I am saving to trade up but worried if I wait and save more this may be wiped out if the premium widens.

Asked on Mar 21 2011, House Prices in Leeds | Report content

Answers (2)

Was this question useful? Yes 1 No 0

Sort by: Oldest | Recent | Highest rated

  • Best advice is to speak to your local agents about house price movement. The good news for you is that house prices generally are falling still, which means the gap between a 1 bed and a 2 bed property is closing. E.G. a 1 bed house worth £125,000 drops 10% therefore reduced by £12,500, a two bed house in the same area £150,000 drops 10% therefore reduced by £15,000 - Net saving £2,500. The only bad news is that each time a property falls in value it will eat into your equity, and with the banks attitude to lending at the moment that could put your plans on hold.

    Answered on Mar 25 2011, Report content
  • I think that as the market levels out, first time buyers are wanting more longevity from their purchase and may opt for a house/flat which a few years ago they would have bought as a second purchase. Then, a one bed flat would have gone up in value and given a couple/singleton a deposit for their next place.... now in a more level market I feel may buyers are going straight to stage 2 and getting the semi with a garden ready for when they have kids...! In answer to your question it 's very often just a 10-15% price difference for that extra bedroom...

    Answered on Jul 26 2011, Report content

Didn't find what you were looking for? Ask a question

More House Prices in Leeds questions on AskMe

See more AskMe Q&A about House Prices