Why Leeds Should Be Your Next Property Investment Location

Why Leeds Should Be Your Next Property Investment Location

The Northern city of Leeds has been gaining a great reputation as a place to invest in property.

There are a number of different factors that make an area ideal for purchasing an investment property. Rental yields, capital appreciation, regeneration and targeted investment strategies are all important parts of any potential investment location, and Leeds has an excellent combination of all of them.

This thriving city boasts a number of impressive accolades. Leeds is the second largest city and metropolitan region in the UK, the fourth largest urban area in the UK, and it has an estimated population of 780,000. Between 2001 and 2011, Leeds grew by 5% and has since seen healthy and sustained levels of growth. Predictions are that by 2033, Leeds will have a population of between 930,000 and one million – which means that there is a consistent demand for new property and new homes. Demand for property is closely tied to population growth which means that potential investors would be wise to invest in Leeds now. Leeds also has a huge student population, with four universities and a great reputation as a student city. This is another good reason to invest in Leeds, with student accommodation in severe demand across the city.

The government’s Northern Powerhouse initiative has been another important catalyst in Leeds’ growing attractiveness to potential investors. Increased investment and connections with other cities in the North have boosted the entire region. The planned HS2 railway will connect Leeds to London, Birmingham and other northern cities, meaning transport across the region will be drastically improved.  The Northern Powerhouse plan has also brought increased attention to the region from around the world, with partnerships and investment from a range of governments and companies. Property investment companies like RW Invest are providing investors with a variety of lucrative opportunities in the Northern Powerhouse, and Leeds is a key location.

Regeneration is another factor that is key to driving up property prices and increasing capital appreciation. Projects like the huge Leeds Southbank regeneration programme, which will see the biggest changes to the city in over a hundred years, are going to have a dramatic impact on the prospects of Leeds and its investors. The project aims to double the size of Leeds city centre, creating over 35,000 jobs and over 8,000 homes. In order to capitalise on Leeds forthcoming prosperity, savvy investors are purchasing Leeds property now while prices are still affordable. House prices in Leeds are growing but currently sit around an average of £198,000, with a flat available for less than £150,000. This is significantly lower than the UK average, giving investors increased value for money.

Another reason why Leeds should be your next property investment of location is its thriving economy. The Leeds economy is currently worth around £18 billion, and it has grown by over 40% in the last ten years. Over the next 10 years, the economy of Leeds is forecast to grow by a further 21% as the flourishing financial sector and strong businesses services industry continue to attract a wealth of investment into the city. Leeds is currently outperforming other UK regions with the city’s GVA forecasted to rise by 2% year on year from 2018 to 2022. Many UK and international businesses have chosen Leeds as a location for their operations, bringing extra money into the city and increasing job opportunities for Leeds’ residents.