Housing in Leeds is worth some £59.05 billion - up 4.2 per cent from last year - according to a new property values survey.
The Zoopla survey analysed 10 of the UK’s largest cities, with Leeds scoring ninth on the list.
It found that homes with the LS17 postcode, such as Alwoodley, Bardsey, East Keswick and Eccup, are said to be worth up to £6.4bn in total - a 5.6 per cent rise in value since last year.
Estate agent James Bryan, Leeds and Harrogate territory owner for Purple Bricks, said the housing market in Leeds had been very positive and properties are in high demand.
He said: “A lot of people won’t put their property on the market until they’ve found somewhere to go to. Areas such as Roundhay and Chapel Allerton are examples of this.
“As a result, Leeds has become more of a sellers’ market, which is why prices may have gone up slightly and there aren’t that many properties on the market. Any property between £100,000 and £400,000 that comes to market and is priced correctly will usually sell quite quickly.”
Mr Bryan said South Leeds is becoming increasingly popular as well. He said: “Areas with the LS26 postcode, such as Woodlesford, Rothwell and Oulton gives great access to train links and to the M1 and M62. The market is buzzing there.”
For those looking for help getting on to the property ladder or work their way up, Mr Bryan said: “For first time buyers, I recommend using the Help To Buy Scheme.
“If you are selling, get your house valued as soon as possible and see how much you can get for it. It’s a really great time to move.”
Lawrence Hall, a spokesman for Zoopla added: “The Leeds housing market has seen significant growth over the past year.
“It will be interesting to see if it begins to climb the rankings.”
Here is the annual percentage growth in the value of homes, according to Zoopla, followed by the total value in January 2018:
1. London, 1.54%, £1.506 trillion
2. Bristol, 3.8%, £115.21 billion
3. Glasgow, 5.38% £90.75 billion
4. Birmingham, 4.08%, £81.66 billion
5. Manchester, 4.49%, £80.47 billion
6. Edinburgh, 4.04%, £68.27 billion
7. Nottingham, 3.69%, £66.13 billion
8. Reading, 2.37%, £60.55 billion
9. Leeds, 4.2%, £59.05 billion
10. Sheffield, 5.63%, £55.69 billion
And here are the most valuable areas in each of the top 10 cities and the annual percentage growth in their value, according to Zoopla (cities ranked in order of the total housing value in each city):
1. London, SW1, includes Belgravia, Pimlico, Westminster, 0.01%, £54.57 billion
2. Bristol, BS16, includes Downend, Emersons Green, Fishponds, 4.43%, £10.1 billion
3. Glasgow, G12, includes West End, Cleveden, Dowanhill, 7.18%, £4.27 billion
4. Birmingham, B13, includes Moseley, Billesley, 5.37%, £3.97 billion
5. Manchester, M20, includes Didsbury, Withington, 4.78%, £6.48 billion
6. Edinburgh EH4, includes Dean Village, Comely Bank, 5.09%, £8.61 billion
7. Nottingham, NG9, includes Beeston, Stapleford, Lenton Abbey, 5.31%, £6.93 billion
8. Reading, RG4, includes Caversham, Sonning, Sonning Common, 1.23%, £8.54 billion
9. Leeds, LS17, includes Alwoodley, Bardsey, East Keswick, Eccup, 5.63%, £6.46 billion
10. Sheffield, S10 includes Broomhill, Broomhall, Crookes, 5.39%, £5.68 billion