Bradford is the most improved city in the UK according to the PWC report. Bradford has experienced a large reduction in its unemployment rate, and also demonstrated moderate improvements in work-life balance, health, environment, and skills amongst the adult population.
Bradford is located approximately 8.6 miles west of Leeds and lies in the eastern foothills of the Pennines. Its population within the council area is 539,776, which makes Bradford the third-largest city in the Yorkshire and the Humber region after Leeds and Sheffield. By 2026 the population of Bradford District is projected to grow to 543,000, which is an increase of 2% from 2016. By 2041 it is expected to increase by 3.7%, which is 552,300 inhabitants.
Bradford is not probably the first choice of property investment, but there are a lot of regenerative developments underway, along with a strong student population seeking accommodation and affordable living spaces. Please see below why we would recommend Bradford as a city for good property investment.
Property in Bradford is relatively affordable. The overall average property price in Bradford is £131,104, which is significantly lower than the UK average of £298,000. Prices are oscillating depending on property types, so you can find flats in Bradford sold for an average of £105,102 and terraced houses for £96,201. Based on this information, Bradford attracts investors who are looking for good returns on investment.
Bradford wants to have the fastest growing economy in the UK, so this is the reason why the city is focusing on development across four key areas as part of the Bradford District Economic Strategy. This huge economic strategy aims to improve connectivity both via transport infrastructure and digital connectivity, Attracting investment using cultural and historical assets, Skills, and education development for young people,… As a property investment agency, we see those improvements as a great opportunity for property investment in Bradford with a good return on investment.
Bradford spent already more than £500 million into improving the city center, and an additional £200 million dispersed among the wider regional district. A new regeneration project is planned in 2020 which will include the £75 million pledged to attract the future’s ‘urban entrepreneurs’
Investing in Bradford property is ideally suited for first-time buyers because the property is relatively affordable and the city has a bright future which will result in a great return on investment. Check on our website all properties for sale in Bradford and contact our sales agent in Aspen Woolf for help!