Is Bradford a good place to invest in property?
Are you looking for an investment property for sale in Bradford? As a city near to the Northern Powerhouse, Bradford is an up-and-coming location that property investors shouldn’t ignore.
But, what makes Bradford property investments so attractive? Read on to find out the most important information and data you should be aware of before you buy an investment property in Bradford.
- Bradford has been listed as the top improving city for 4 consecutive years, and last year it came in the first place. According to the PwC, this is largely due to the fall in unemployment rate.
- If you’re looking for great ROI, then property in Bradford, available for sale should definitely be on your radar.
- The Office of National Statistics reported an 11.5% increase in property prices the year prior, which is higher than the national average.
- If you’re looking to buy property in the north of England, pay special attention to the regeneration plans for Bradford. Some of the most notable ones are:
Broadway Shopping Centre,
City Centre Growth Zone,
HS2 project.
- Bradford has one of the strongest economies in the UK. This makes it increasingly attractive to a wide demographic. By 2030, the population of Bradford will reach 565,000 people, making it an ideal location for looking into commercial property for sale or buy-to-lets.
- Likewise, the significant student population at the University of Bradford – 7,435 undergraduates and 2,225 graduate students, creates the perfect market for those types of investments.
What to expect from your Bradford properties?
Bradford is becoming an increasingly attractive place for a wide range of businesses and is home to one of the youngest populations in the UK. For potential investors, this means that there is a great selection of investment properties for sale.
With a steady stream of tenants, you won’t have to worry about demand any time soon. Property in Bradford will also offer far higher rental yields than most places in the UK – for example, some properties in the BD1 area can offer between 8 – 10% rental yields.
Property for sale in Bradford, UK is still considered relatively affordable. So you should join the wagon before the predicted price growth hits to yield the best returns.
To be more specific, Bradford property prices currently stand at:
Detached property: £354,006
Semi-detached property: £189,692
Terraced property: £143,044
Overall average price of property in Bradford: £183,190
Buy-to-let property investors will surely rejoice with the predicted population growth, and they should also keep in mind the opportunity the University of Bradford offers with its 7,435 undergraduates and 2,225 graduate students.
A strong student population seeking affordable accommodation should be a great opportunity for those interested in this type of investment.
It’s worth mentioning that students in Bradford are more interested in renting apartments, rather than living in HMOs.
Here’s another important note, that definitely goes in favour of all those on the lookout for a property for sale in Bradford.
Bradford Council’s Private Sector Lettings Scheme offers landlords a free tenant finder service offering help with matching their property with prospective tenants.
Let’s not forget about the growing economy & regeneration, though!
Bradford’s economy is worth more than £11.6 billion and is expected to grow by approximately 25% over the next decade.
In addition, it’s still considered as one of the most affordable cities in the UK. So young business owners, professionals and even entire families are choosing Bradford to start a new life or a business.
Where to invest in Bradford?
Now that we’ve covered why this ambitious Northern city is one to watch. Also why it’s a good place to get in early to reap the benefits as the city grows. The time has come to reveal some of the best spots to start searching for properties for sale in Bradford.
- Bradford City Centre– Bradford’s BD1 postcode is popular with students and young professionals and it can also deliver yields as high as 10%. So if you’re on the lookout for a but-to-let property in Bradford, these are the prices you can expect:
prices in the BD1 area currently stand at £59,390. The majority of sales in the past year were flats, with an average price of £51,350.
Properties Aspen Woolf has on offer are predominantly in this area. So if you’re interested, contact our team today.
- Manningham– Located in the inner-city suburbs, this Bradford area houses some of the cheapest properties you can find. Last year,proeprty prices in this area averaged at £91,950.
- East Bradford– a perfect location for all those in need of an easy commute to Leeds & the Centre of Bradford. You should check out areas like Thornbury, Laisterdyke, Greengates, Apperley Bridge and Ravenscliffe.
- Ravenscliffe offers semi-detached properties at an average price of £218,165. Whereas, Thornbury had an overall average price of £95,000.
- South Bradford– another ideal area for commuters, in close proximity to the M606 and M62. The areas you should focus on offer a wide range of properties, and they are:
- West Bowling, Wibsey and Low Moor– Properties in West Bowling stood at an average price of £93,430. While properties in Low Moor had an overall average price of £143,487 over the last year.