Leeds boasts opportunities for housing and investment growth
With room for 20,000 more homes in the city centre, a recent report by Leeds City Council suggested the number of houses in Leeds could nearly double in the coming years.
Currently, about 25,000 people live in the centre of Leeds, and the majority of residents are in the private rental sector. A revival in the housing market and property investment has transformed Leeds, especially in the last 10 years, yet the city still has room for further growth.
On average, only 395 houses have been built per year, despite approximately 8,000 planning approvals for new homes in the city centre. As demand continues to rise in Leeds, the centre is an ideal location for more homes and flats to be built.
The report by Leeds City Council stated: “It is one of the most sustainable locations for new housing, close to jobs and major transport connections and providing for the reuse of previously developed land at a higher density than is achievable in less central locations.”
A bid for 10,000 new homes in Leeds
The Leeds City Council is prepping to make a bid for £85m from the government’s Housing Infrastructure Fund to help deliver 10,000 new homes by 2033. If the council is successful with the bid, infrastructure works is expected to start by the end of 2019.
Councillor Richard Lewis, Leeds City Council executive member for regeneration, transport and planning, commented: “We know more and more people are now wanting to live in city centres with all key amenities within easy reach. This investment would allow us to deliver even more positive growth in the city centre, with a vibrant mixed community and new facilities for everybody to benefit from.
“By enabling much improved connections with neighbourhoods adjoining the city centre we can ensure greater opportunities for residents to access jobs and learning opportunities as well as facilities and services.”
(c) Buy Association, March 2019