Why buy an investment property in Leeds?
Leeds has been considered as a property investment hot spot for a few years now. But you’re not late if you’re in the market for properties for sale in Leeds now.
With continuous regeneration, innovative residential developments and a strong business hub, Leeds is now one of the most exciting cities in which to live, work, and invest in property.
Now let’s get into what makes Leeds ideal for property investors looking to make good returns:
1. One of the main attractive features that draws investors in is Leeds property prices. Regardless of the fact that in recent years prices have been going up, Leeds is still considered as an affordable investment option.
2. Another benefit, following the attractive price points, is Leeds rental yields. With the average rental yield across the UK sitting at 3.53%, the astonishing 8.97% rental yield in Leeds is definitely something you shouldn’t ignore.
3. As a city located in the West Yorkshire county, Savills is predicting ample house price growth. House prices will soar by an astonishing 18.8% by 2026. Meaning you still have enough time to snatch up great apartments currently for sale in Leeds.
4. Another regional statistic that very much goes in favour of making Leeds a prime property investment location is rental demand. According to Zoopla, Yorkshire recorded a 3% rise in rental demand last year. Which is the largest annual growth in the country!
5. If you’re interested in buying student properties, Leeds is not a city you’d want to skip over. With a student population of over 60,000, Leeds can offer you not only a very good value property but also high returns and low vacancy rates.
What to expect from Leeds properties?
As a city that has loads of regeneration projects underway, Leeds is becoming increasingly inviting to both businesses and individuals. With a growing population and a very strong economy rental prices in Leeds rose by 7.7% over the last year.
Which is a sign of amazing potential returns for anyone looking for buy-to-let flats for sale in Leeds. The city is also becoming more and more popular with a wide range of demographics. Starting from the previously mentioned student population to young professionals and families.
With this increasing demand and regeneration, you’re looking some amazing opportunities to obtain a relatively cheap investment property in Leeds with great modern amenities at an amazing location.
By investing in Leeds you can certainly count on a very stable growing market. Even though it’s not at the top of the list with stand-out growth figures it shows a very consistent growth rate.
Depending on the type of investment you’re looking to make and capitalise on, Leeds may not be the perfect location for you. If your sole focus is capital growth, Leeds is lagging behind prime locations like Liverpool and Manchester. Nevertheless, with an ever-increasing economy and rental demand, you certainly wouldn’t lose money either way.
Continuing from the previous note, Leeds may not be the best location for every property investor out there. Although that doesn’t exclude the opportunities it offers to others.
For one, for all those looking to buy and earn from a buy-to-let property, Leeds is one of the best locations to focus on. Also, investors interested in Leeds student properties will enjoy great returns as well.
As a city with such a large, and ever-increasing, young population buy-to-let apartments for sale in Leeds are without a doubt a smart choice. Around 30% of the population are aged 15-34 which is the perfect range for those looking to capitalise on this type of investment.
Not to mention, the city is struggling to meet demands for housing which is having a knock-on effect when it comes to Leeds property prices and rents.
The areas you should focus on while looking at properties for sale Leeds has on offer are:
- Leeds City Centre – an area popular with young professionals and students. Leeds City Centre flats for sale go for an average price of £176,024. Investors can expect steady yields of 5% on average.
- Meanwood Leeds – an up-and-coming area on the northern fringe of the city and is becoming more and more popular with families looking for a more peaceful life. Accordingly, the majority of sales in Meanwood during the last year were semi-detached properties, selling for an average price of £306,968.
- Headingley Leeds- Headingley is just two miles from Leeds City Centre and has long been a popular area for student accommodation. Semi-detached properties for sale in this Leeds area stand at an average price of £319,454. While flats sold for an average of £178,835.
- Woodhouse, Burley and Hyde Park- All these areas are close to Leeds’ main universities, making them ideal locations for a student investment property. Over the past year, the average house prices in these areas were as follows:
- Woodhouse £199,115
- Burley £207,033
- Hyde Park £211,844
If you’re interested in finding the perfect investment property for sale in Leeds, Aspen Woolf has got you covered. Check out the Leeds properties we have on offer and feel free to contact our team.